Wincap Financial LLC Sells 212 Shares of AbbVie Inc. $ABBV

Wincap Financial LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% in the second quarter, HoldingsChannel.com reports. The firm owned 8,483 shares of the company’s stock after selling 212 shares during the period. AbbVie comprises 1.3% of Wincap Financial LLC’s holdings, making the stock its 18th largest position. Wincap Financial LLC’s holdings in AbbVie were worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Marshall & Sullivan Inc. WA bought a new stake in AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC increased its stake 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. grew its stake in shares of AbbVie by 480.6% in 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 in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BMO Capital Markets upped their target price 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. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday, October 2nd. Guggenheim upped their target price on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Thursday, August 7th. Two research 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, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $234.80.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $227.98 on Tuesday. The company’s 50-day moving average is $221.13 and its 200 day moving average is $199.58. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $402.73 billion, a P/E ratio of 108.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current 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 paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.