Union Savings Bank reduced its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,950 shares of the company’s stock after selling 94 shares during the period. Union Savings Bank’s holdings in AbbVie were worth $1,037,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.
Wall Street Analyst Weigh In
View Our Latest Stock Report on ABBV
AbbVie Trading Down 0.2%
NYSE:ABBV opened at $185.16 on Friday. The firm’s fifty day moving average is $185.19 and its 200-day moving average is $187.63. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The firm has a market cap of $327.06 billion, a P/E ratio of 78.79, a P/E/G ratio of 1.23 and a beta of 0.50.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.54%. AbbVie’s dividend payout ratio is presently 279.15%.
About AbbVie
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.
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