AbbVie Inc. $ABBV Shares Sold by Paragon Private Wealth Management LLC

Paragon Private Wealth Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,110 shares of the company’s stock after selling 231 shares during the quarter. AbbVie makes up approximately 1.3% of Paragon Private Wealth Management LLC’s holdings, making the stock its 17th largest holding. Paragon Private Wealth Management LLC’s holdings in AbbVie were worth $2,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Federation des caisses Desjardins du Quebec lifted its position in AbbVie by 10.0% during the first quarter. Federation des caisses Desjardins du Quebec now owns 165,509 shares of the company’s stock valued at $34,684,000 after buying an additional 15,105 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of AbbVie by 20.1% during the first quarter. EP Wealth Advisors LLC now owns 126,128 shares of the company’s stock worth $26,426,000 after purchasing an additional 21,090 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $419,000. Ashton Thomas Securities LLC raised its holdings in shares of AbbVie by 5.6% during the 1st quarter. Ashton Thomas Securities LLC now owns 2,198 shares of the company’s stock valued at $460,000 after buying an additional 116 shares during the period. Finally, First Manhattan CO. LLC. lifted its position in AbbVie by 1.9% during the 1st quarter. First Manhattan CO. LLC. now owns 618,259 shares of the company’s stock worth $129,538,000 after acquiring an additional 11,326 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $210.25 on Tuesday. The firm has a market cap of $371.42 billion, a PE ratio of 100.12, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The firm’s 50-day simple moving average is $195.58 and its 200-day simple moving average is $193.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on ABBV shares. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Morgan Stanley raised their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Finally, Guggenheim lifted their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $214.95.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated 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 directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were 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 approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.