Nadler Financial Group Inc. Has $1.65 Million Position in AbbVie Inc. $ABBV

Nadler Financial Group Inc. lessened its position in AbbVie Inc. (NYSE:ABBV) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,884 shares of the company’s stock after selling 586 shares during the period. Nadler Financial Group Inc.’s holdings in AbbVie were worth $1,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in AbbVie by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after purchasing an additional 845,787 shares in the last quarter. Northern Trust Corp increased its holdings in AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after purchasing an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after buying an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after buying an additional 45,871 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Citigroup reissued a “neutral” rating on shares of AbbVie in a research note on Monday. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Piper Sandler increased their price target on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Finally, BMO Capital Markets increased their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Three 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.90.

AbbVie Stock Down 0.1%

Shares of AbbVie stock opened at $230.36 on Tuesday. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. 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 stock’s 50-day moving average is $215.50 and its 200 day moving average is $196.89. The firm has a market cap of $406.94 billion, a price-to-earnings ratio of 109.70, a PEG 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 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the company earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 completion of the transaction, 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 currently owned by corporate insiders.

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.