Realta Investment Advisors Sells 549 Shares of AbbVie Inc. $ABBV

Realta Investment Advisors reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,085 shares of the company’s stock after selling 549 shares during the period. Realta Investment Advisors’ holdings in AbbVie were worth $944,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie during the 2nd quarter worth about $25,000. TD Capital Management LLC grew its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter worth about $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in AbbVie during the 1st quarter worth about $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABBV shares. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Citigroup raised their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Bank of America raised their target price on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group set a $251.00 target price on AbbVie in a research note on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Saturday, September 27th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.22.

AbbVie Price Performance

AbbVie stock opened at $234.07 on Friday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company’s 50 day moving average price is $210.77 and its two-hundred day moving average price is $195.90. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market cap of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.