AbbVie Inc. $ABBV Shares Sold by Arlington Trust Co LLC

Arlington Trust Co LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,779 shares of the company’s stock after selling 197 shares during the period. Arlington Trust Co LLC’s holdings in AbbVie were worth $1,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. TD Capital Management LLC boosted its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC purchased a new position in shares of AbbVie in the first quarter worth $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie in the first quarter worth $35,000. Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie in the first quarter worth $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.8%

ABBV opened at $218.40 on Monday. The company has a fifty day moving average of $200.25 and a two-hundred day moving average of $194.45. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The stock has a market capitalization of $385.82 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.40 and a beta of 0.53. 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 (NYSE:ABBV) last announced its earnings results 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company 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 earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s payout ratio is presently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated 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 in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ABBV shares. Piper Sandler started coverage on shares of AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price target for the company. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a report on Thursday, August 7th. BMO Capital Markets raised their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $217.10.

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.