AbbVie Inc. $ABBV Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,901 shares of the company’s stock after selling 214 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in AbbVie were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Lindenwold Advisors INC grew its holdings in AbbVie by 2.6% during the second quarter. Lindenwold Advisors INC now owns 15,487 shares of the company’s stock worth $2,875,000 after acquiring an additional 389 shares during the period. Conning Inc. boosted its position in shares of AbbVie by 7.1% in the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after purchasing an additional 12,690 shares during the period. SLT Holdings LLC boosted its position in shares of AbbVie by 20.6% in the 2nd quarter. SLT Holdings LLC now owns 1,598 shares of the company’s stock valued at $297,000 after purchasing an additional 273 shares during the period. Drucker Wealth 3.0 LLC boosted its position in shares of AbbVie by 168.8% in the 2nd quarter. Drucker Wealth 3.0 LLC now owns 4,486 shares of the company’s stock valued at $855,000 after purchasing an additional 2,817 shares during the period. Finally, Eastern Bank boosted its position in shares of AbbVie by 1.2% in the 2nd quarter. Eastern Bank now owns 376,510 shares of the company’s stock valued at $69,888,000 after purchasing an additional 4,316 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.1%

Shares of AbbVie stock opened at $230.88 on Friday. The firm has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The stock has a 50-day simple moving average of $214.84 and a 200-day simple moving average of $196.79.

AbbVie (NYSE:ABBV) last announced 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 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared 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. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Insider Activity

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

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Wall Street Zen lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Finally, UBS Group set a $251.00 price target on AbbVie in a research report on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $231.90.

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.