AbbVie Inc. $ABBV Shares Sold by First Command Advisory Services Inc.

First Command Advisory Services Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,849 shares of the company’s stock after selling 308 shares during the quarter. First Command Advisory Services Inc.’s holdings in AbbVie were worth $1,271,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new position in AbbVie in the 1st quarter valued at $1,819,154,000. Assenagon Asset Management S.A. increased its stake in AbbVie by 550.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after buying an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. increased its stake in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in AbbVie in the 2nd quarter valued at $581,817,000. Finally, Invesco Ltd. increased its stake in AbbVie by 17.5% in the 1st quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock valued at $1,753,064,000 after buying an additional 1,246,863 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE ABBV opened at $228.06 on Monday. The firm has a market capitalization of $402.87 billion, a P/E ratio of 108.60, a PEG ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company’s fifty day moving average is $220.69 and its two-hundred day moving average is $199.24. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last issued 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 return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s payout ratio is currently 312.38%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABBV shares. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Cantor Fitzgerald set a $250.00 price objective on shares of AbbVie and gave the company an “overweight” rating in a research note on Thursday, October 9th. UBS Group set a $251.00 price objective on shares of AbbVie in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.80.

AbbVie 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.