AbbVie Inc. $ABBV Shares Sold by West Financial Advisors LLC

West Financial Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 657 shares of the company’s stock after selling 109 shares during the quarter. West Financial Advisors LLC’s holdings in AbbVie were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Mechanics Financial Corp raised its stake in AbbVie by 0.8% during the second quarter. Mechanics Financial Corp now owns 8,440 shares of the company’s stock worth $1,567,000 after purchasing an additional 65 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of AbbVie by 12.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock worth $929,000 after buying an additional 566 shares during the last quarter. J. Safra Sarasin Holding AG raised its position in shares of AbbVie by 110.3% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 284,751 shares of the company’s stock valued at $52,829,000 after buying an additional 149,378 shares during the period. Lecap Asset Management Ltd. acquired a new position in AbbVie in the second quarter valued at approximately $488,000. Finally, DMKC Advisory Services LLC lifted its holdings in AbbVie by 99.4% in the second quarter. DMKC Advisory Services LLC now owns 2,662 shares of the company’s stock valued at $509,000 after acquiring an additional 1,327 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. Guggenheim lifted their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Wells Fargo & Company raised their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Morgan Stanley upped their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $223.52.

AbbVie Trading Down 3.0%

Shares of ABBV stock opened at $236.98 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a 50 day moving average price of $209.90 and a 200 day moving average price of $195.87. The stock has a market capitalization of $418.63 billion, a P/E ratio of 112.85, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. 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 quarterly 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same period in the prior year, the business earned $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

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.