Yousif Capital Management LLC Sells 5,410 Shares of AbbVie Inc. $ABBV

Yousif Capital Management LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,788 shares of the company’s stock after selling 5,410 shares during the period. AbbVie comprises 0.5% of Yousif Capital Management LLC’s portfolio, making the stock its 25th biggest position. Yousif Capital Management LLC’s holdings in AbbVie were worth $44,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sullivan Inc. WA bought a new stake in AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC raised its position in AbbVie by 82.9% during the 1st 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. Abound Financial LLC bought a new stake in AbbVie during the 1st quarter valued at $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie during the 1st quarter valued at $35,000. Finally, Bear Mountain Capital Inc. raised its position in AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.1%

Shares of ABBV stock opened at $230.88 on Monday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The stock’s fifty day moving average price is $214.84 and its 200 day moving average price is $196.71. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter last year, the firm earned $2.65 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABBV. Piper Sandler lifted their price target on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a report on Friday. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Finally, HSBC set a $225.00 price target on AbbVie in a report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.90.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s 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 sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 177,292 shares in the company, 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. 0.08% of the stock is owned by insiders.

AbbVie Company 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.