Aull & Monroe Investment Management Corp Has $2.79 Million Holdings in AbbVie Inc. $ABBV

Aull & Monroe Investment Management Corp lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 18.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,045 shares of the company’s stock after selling 3,445 shares during the quarter. AbbVie makes up 1.5% of Aull & Monroe Investment Management Corp’s portfolio, making the stock its 23rd biggest position. Aull & Monroe Investment Management Corp’s holdings in AbbVie were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TD Capital Management LLC increased its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in AbbVie during the 2nd quarter worth about $25,000. Abound Financial LLC bought a new position in AbbVie during the 1st quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in AbbVie during the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction 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. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated 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 of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $229.66 on Friday. The stock has a market capitalization of $405.71 billion, a price-to-earnings ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51. The business has a 50-day moving average of $217.91 and a 200-day moving average of $197.55. 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 fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. Citigroup reiterated a “neutral” rating on shares of AbbVie in a report on Monday, October 13th. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. JPMorgan Chase & Co. raised their price objective on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.05.

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.