Tillman Hartley LLC Sells 418 Shares of AbbVie Inc. (NYSE:ABBV)

Tillman Hartley LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 9.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,126 shares of the company’s stock after selling 418 shares during the period. Tillman Hartley LLC’s holdings in AbbVie were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Gilbert & Cook Inc. boosted its stake in AbbVie by 9.8% during the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after buying an additional 861 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of AbbVie by 5.1% during the 4th quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock worth $666,000 after purchasing an additional 210 shares during the period. 9258 Wealth Management LLC grew its holdings in AbbVie by 1.7% during the 4th quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after purchasing an additional 283 shares during the last quarter. Gryphon Financial Partners LLC raised its position in AbbVie by 1.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock worth $12,972,000 after purchasing an additional 1,531 shares during the period. Finally, Quotient Wealth Partners LLC bought a new stake in AbbVie in the fourth quarter worth about $935,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets upped their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Stock Performance

Shares of AbbVie stock opened at $199.35 on Wednesday. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a market capitalization of $352.12 billion, a PE ratio of 59.15, a P/E/G ratio of 2.64 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a 50-day simple moving average of $185.07 and a two-hundred day simple moving average of $174.88.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. Research analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.11%. AbbVie’s payout ratio is 183.98%.

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.