AbbVie Inc. (NYSE:ABBV) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 18.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,638 shares of the company’s stock after selling 10,433 shares during the period. Wealthspire Advisors LLC’s holdings in AbbVie were worth $7,236,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Sanders Morris Harris LLC lifted its stake in AbbVie by 0.3% in the 1st quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock worth $3,755,000 after acquiring an additional 62 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in shares of AbbVie by 0.9% during the 1st quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock valued at $1,235,000 after acquiring an additional 66 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in AbbVie by 0.4% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock valued at $2,856,000 after buying an additional 67 shares during the last quarter. Lenox Wealth Advisors LLC grew its holdings in AbbVie by 5.3% in the 1st quarter. Lenox Wealth Advisors LLC now owns 1,344 shares of the company’s stock valued at $235,000 after buying an additional 68 shares during the last quarter. Finally, Modus Advisors LLC grew its holdings in AbbVie by 0.3% in the 1st quarter. Modus Advisors LLC now owns 19,907 shares of the company’s stock valued at $3,227,000 after buying an additional 69 shares during the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AbbVie news, Vice Chairman Michael Severino sold 79,801 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $150.90, for a total transaction of $12,041,970.90. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $22,952,342.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other AbbVie news, Vice Chairman Michael Severino sold 79,801 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $150.90, for a total transaction of $12,041,970.90. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $22,952,342.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,761 shares of company stock worth $55,528,771. Corporate insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $138.04 on Friday. The firm has a market cap of $243.93 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.70. The stock’s 50-day moving average is $147.52 and its 200-day moving average is $150.06. AbbVie Inc. has a one year low of $105.56 and a one year high of $175.91. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, July 29th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.06. AbbVie had a return on equity of 157.31% and a net margin of 22.03%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company posted $3.11 earnings per share. AbbVie’s revenue was up 4.5% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a dividend of $1.41 per share. The ex-dividend date is Thursday, July 14th. This represents a $5.64 annualized dividend and a yield of 4.09%. AbbVie’s payout ratio is presently 79.89%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research report on Friday, May 6th. Barclays raised their price target on AbbVie from $150.00 to $174.00 and gave the company an “equal weight” rating in a report on Tuesday, April 12th. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, August 1st. Finally, Morgan Stanley lowered their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.50.

AbbVie Company Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Beh├žet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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