Trajan Wealth LLC Sells 6,717 Shares of AbbVie Inc. (NYSE:ABBV)

Trajan Wealth LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 22.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,795 shares of the company’s stock after selling 6,717 shares during the period. Trajan Wealth LLC’s holdings in AbbVie were worth $4,986,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sustainable Insight Capital Management LLC grew its holdings in shares of AbbVie by 30.8% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 1,698 shares of the company’s stock valued at $356,000 after purchasing an additional 400 shares during the last quarter. Gouws Capital LLC grew its holdings in shares of AbbVie by 2.5% during the 1st quarter. Gouws Capital LLC now owns 2,415 shares of the company’s stock valued at $506,000 after purchasing an additional 60 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of AbbVie by 13.4% during the 1st quarter. Public Sector Pension Investment Board now owns 918,647 shares of the company’s stock valued at $192,475,000 after purchasing an additional 108,673 shares during the last quarter. Kohmann Bosshard Financial Services LLC grew its holdings in shares of AbbVie by 6.0% during the 1st quarter. Kohmann Bosshard Financial Services LLC now owns 2,659 shares of the company’s stock valued at $557,000 after purchasing an additional 150 shares during the last quarter. Finally, Todd Asset Management LLC grew its holdings in shares of AbbVie by 0.6% during the 1st quarter. Todd Asset Management LLC now owns 230,851 shares of the company’s stock valued at $48,368,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other 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 value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their price target 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. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Finally, Raymond James Financial raised their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $214.43.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $198.46 on Tuesday. 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 $218.66. The company has a market capitalization of $350.59 billion, a P/E ratio of 94.50, a P/E/G ratio of 1.27 and a beta of 0.50. The firm’s 50 day simple moving average is $189.88 and its two-hundred day simple moving average is $191.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same period in the prior year, the firm earned $2.65 EPS. AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is 312.38%.

About AbbVie

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.