Mcdaniel Terry & Co. Reduces Stock Position in AbbVie Inc. $ABBV

Mcdaniel Terry & Co. cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,282 shares of the company’s stock after selling 89 shares during the period. Mcdaniel Terry & Co.’s holdings in AbbVie were worth $2,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Capital Management LLC boosted its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie in the second quarter worth approximately $25,000. Abound Financial LLC bought a new stake in AbbVie during the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new stake in AbbVie during the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. boosted its stake in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $250.00 target price (up from $236.00) on shares of AbbVie in a report on Friday, October 17th. UBS Group set a $251.00 price objective on AbbVie in a research report on Friday, October 3rd. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Morgan Stanley lifted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $234.80.

AbbVie Trading Down 0.1%

Shares of ABBV opened at $228.06 on Friday. The firm has a market cap of $402.87 billion, a P/E ratio of 108.60, a price-to-earnings-growth ratio of 1.44 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 1 year low of $163.81 and a 1 year high of $244.81. The company has a 50 day simple moving average of $220.69 and a two-hundred day simple moving average of $198.94.

AbbVie (NYSE:ABBV) last released 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 company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $2.65 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given 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 dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’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 sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.