Dempze Nancy E Has $1.09 Million Stake in AbbVie Inc. $ABBV

Dempze Nancy E decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,855 shares of the company’s stock after selling 856 shares during the quarter. Dempze Nancy E’s holdings in AbbVie were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABBV. FF Advisors LLC grew its stake in AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after purchasing an additional 53 shares during the period. Private Management Group Inc. grew its stake in AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after purchasing an additional 54 shares during the period. LifeSteps Financial Inc. grew its stake in AbbVie by 0.7% in the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after purchasing an additional 54 shares during the period. Silicon Valley Capital Partners grew its stake in AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares during the period. Finally, Seneca House Advisors grew its stake in AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. UBS Group set a $251.00 price target on AbbVie in a research note on Friday, October 3rd. Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, HSBC set a $225.00 target price on AbbVie in a report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

AbbVie Trading Down 0.7%

Shares of NYSE:ABBV opened at $231.26 on Thursday. The company has a market cap of $408.53 billion, a P/E ratio of 110.12, a PEG ratio of 1.36 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The stock’s fifty day moving average price is $213.28 and its 200-day moving average price is $196.43.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.