Atria Wealth Solutions Inc. Sells 82,671 Shares of AbbVie Inc. $ABBV

Atria Wealth Solutions Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 60.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,034 shares of the company’s stock after selling 82,671 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in AbbVie were worth $10,257,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Conning Inc. grew its stake in shares of AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after purchasing an additional 12,690 shares during the period. Dohj LLC grew its stake in shares of AbbVie by 41.8% during the 2nd quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the period. First Hawaiian Bank grew its stake in shares of AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after acquiring an additional 60 shares during the period. Narus Financial Partners LLC grew its stake in shares of AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after acquiring an additional 401 shares during the period. Finally, BankPlus Trust Department grew its stake in shares of AbbVie by 3.3% during the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after acquiring an additional 855 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABBV. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, HSBC set a $225.00 price objective on AbbVie in a research note on Thursday, October 2nd. Three research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.90.

AbbVie Stock Up 0.1%

Shares of ABBV opened at $230.88 on Monday. The stock has a market capitalization of $407.86 billion, a price-to-earnings ratio of 109.94, a price-to-earnings-growth ratio of 1.42 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 business’s 50 day simple moving average is $214.84 and its 200-day simple moving average is $196.71. 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 (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for 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%.The firm’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.65 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is 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.