AbbVie Inc. $ABBV Shares Sold by Analyst IMS Investment Management Services Ltd.

Analyst IMS Investment Management Services Ltd. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 43.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,185 shares of the company’s stock after selling 2,409 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in AbbVie were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in AbbVie by 24,444.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 130,575 shares of the company’s stock worth $24,237,000 after acquiring an additional 130,043 shares during the period. Quaker Wealth Management LLC raised its stake in shares of AbbVie by 201.4% in the 2nd quarter. Quaker Wealth Management LLC now owns 994 shares of the company’s stock worth $185,000 after buying an additional 1,974 shares in the last quarter. Oarsman Capital Inc. raised its stake in shares of AbbVie by 0.7% in the 2nd quarter. Oarsman Capital Inc. now owns 17,723 shares of the company’s stock worth $3,290,000 after buying an additional 121 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of AbbVie by 9.2% in the 2nd quarter. Bank of Jackson Hole Trust now owns 6,769 shares of the company’s stock worth $1,256,000 after buying an additional 573 shares in the last quarter. Finally, Mendel Money Management raised its stake in shares of AbbVie by 1.4% in the 2nd quarter. Mendel Money Management now owns 11,908 shares of the company’s stock worth $2,210,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.2%

NYSE:ABBV opened at $227.67 on Wednesday. The firm has a market capitalization of $402.19 billion, a price-to-earnings ratio of 108.41, a PEG ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The business’s fifty day moving average price is $221.56 and its 200 day moving average price is $199.96.

AbbVie (NYSE:ABBV) last issued its 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 net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter last year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBV. Guggenheim boosted their price objective on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Piper Sandler boosted their price objective on AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Evercore ISI boosted their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial reissued an “outperform” rating and issued a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research note on Friday, October 17th. Finally, Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.80.

Insider Activity

In related news, 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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by 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.