Tiemann Investment Advisors LLC Sells 95 Shares of AbbVie Inc. $ABBV

Tiemann Investment Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,565 shares of the company’s stock after selling 95 shares during the quarter. AbbVie makes up about 1.0% of Tiemann Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Tiemann Investment Advisors LLC’s holdings in AbbVie were worth $2,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abound Financial LLC purchased a new stake in shares of AbbVie during the 1st quarter worth $30,000. Siemens Fonds Invest GmbH grew its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in AbbVie in the first quarter worth about $35,000. Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the first quarter valued at about $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price objective for the company. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $214.95.

AbbVie Stock Performance

Shares of ABBV stock opened at $208.7240 on Thursday. The business has a fifty day moving average of $192.10 and a 200 day moving average of $192.68. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market capitalization of $368.72 billion, a price-to-earnings ratio of 99.39, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted 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). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, July 15th. AbbVie’s dividend payout ratio is 312.38%.

Insider Buying and Selling

In other news, 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. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’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 transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie 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.