Willner & Heller LLC Has $1.40 Million Stock Holdings in AbbVie Inc. $ABBV

Willner & Heller LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 10.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,550 shares of the company’s stock after selling 864 shares during the period. AbbVie makes up 1.2% of Willner & Heller LLC’s investment portfolio, making the stock its 20th biggest position. Willner & Heller LLC’s holdings in AbbVie were worth $1,401,000 at the end of the most recent quarter.

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

AbbVie Stock Performance

Shares of ABBV stock opened at $234.07 on Friday. The firm has a 50 day moving average of $210.77 and a 200-day moving average of $195.90. The company has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

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

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Evercore ISI raised their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Finally, UBS Group set a $251.00 price target on shares of AbbVie in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $228.22.

Insider Buying and Selling

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