Emprise Bank Sells 105 Shares of AbbVie Inc. $ABBV

Emprise Bank lowered its position in AbbVie Inc. (NYSE:ABBV) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,338 shares of the company’s stock after selling 105 shares during the period. Emprise Bank’s holdings in AbbVie were worth $248,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABBV. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC bought a new position in AbbVie during the 1st quarter valued at approximately $30,000. Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% during the 4th 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 purchased a new stake in AbbVie during the 1st quarter valued at $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter valued at $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $217.92 on Tuesday. The company has a market capitalization of $384.97 billion, a PE ratio of 103.77, a price-to-earnings-growth 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. The business’s fifty day moving average is $200.86 and its 200 day moving average is $194.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76.

AbbVie (NYSE:ABBV) last released its 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 company 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%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 earnings per share. Sell-side analysts predict 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 will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Piper Sandler initiated coverage on AbbVie in a research note on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price on the stock. Citigroup raised their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their price target on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets raised their price target on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.76.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s 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 sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% 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 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.