Atria Investments Inc Sells 10,819 Shares of AbbVie Inc. $ABBV

Atria Investments Inc lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,373 shares of the company’s stock after selling 10,819 shares during the period. Atria Investments Inc’s holdings in AbbVie were worth $33,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Marshall & Sullivan Inc. WA bought a new stake in AbbVie during the second quarter valued at about $25,000. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the 1st quarter worth approximately $35,000. Finally, Bear Mountain Capital Inc. grew its position 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 buying an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.0%

NYSE ABBV opened at $225.24 on Thursday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market capitalization of $397.90 billion, a PE ratio of 107.26, a P/E/G ratio of 1.44 and a beta of 0.51. The company has a fifty day moving average of $221.89 and a 200 day moving average of $200.31.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. 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 business posted $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI raised their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. UBS Group set a $251.00 price objective on shares of AbbVie in a report on Friday, October 3rd. Morgan Stanley lifted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Guggenheim raised their price target on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, HSBC set a $225.00 price objective on shares of AbbVie in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

AbbVie Company 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.