Loudon Investment Management LLC Sells 500 Shares of AbbVie Inc. $ABBV

Loudon Investment Management LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 20,937 shares of the company’s stock after selling 500 shares during the quarter. AbbVie comprises 2.1% of Loudon Investment Management LLC’s holdings, making the stock its 13th largest holding. Loudon Investment Management LLC’s holdings in AbbVie were worth $3,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Hawaiian Bank boosted its holdings in shares of AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after buying an additional 60 shares during the period. Narus Financial Partners LLC lifted its position in AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after acquiring an additional 401 shares in the last quarter. Highland Capital Management LLC boosted its stake in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after purchasing an additional 2,792 shares during the period. Weaver Capital Management LLC increased its holdings in AbbVie by 3.9% during the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after purchasing an additional 310 shares in the last quarter. Finally, North Star Asset Management Inc. raised its stake in shares of AbbVie by 0.5% in the 1st quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock valued at $33,800,000 after purchasing an additional 756 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 3.7%

NYSE ABBV opened at $231.47 on Wednesday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $232.35. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a 50 day moving average of $207.89 and a 200-day moving average of $195.37. The company has a market cap of $408.91 billion, a PE ratio of 110.22, a PEG ratio of 1.31 and a beta of 0.53.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (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%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’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 value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value 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 represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABBV shares. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. Citigroup boosted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Guggenheim raised their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Morgan Stanley lifted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Evercore ISI increased their target price on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.45.

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.