Cape ANN Savings Bank Has $582,000 Stock Holdings in AbbVie Inc. $ABBV

Cape ANN Savings Bank cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,138 shares of the company’s stock after selling 125 shares during the period. Cape ANN Savings Bank’s holdings in AbbVie were worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. First Hawaiian Bank raised its stake in AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares during the period. Narus Financial Partners LLC raised its position in AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after buying an additional 401 shares during the period. Highland Capital Management LLC raised its position in AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after buying an additional 2,792 shares during the period. Weaver Capital Management LLC raised its position in AbbVie by 3.9% during the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock valued at $1,727,000 after buying an additional 310 shares during the period. Finally, North Star Asset Management Inc. raised its position in AbbVie by 0.5% during the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock valued at $33,800,000 after buying an additional 756 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $234.07 on Friday. The company’s fifty day moving average is $210.77 and its 200-day moving average is $196.01. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The firm has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth ratio of 1.38 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 (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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. Wells Fargo & Company upped their target price on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. HSBC set a $225.00 price objective on shares of AbbVie in a research note on Thursday. Guggenheim upped 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. Finally, Evercore ISI upped their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $228.22.

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.