Chatham Capital Group Inc. Sells 4,562 Shares of AbbVie Inc. $ABBV

Chatham Capital Group Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,451 shares of the company’s stock after selling 4,562 shares during the quarter. Chatham Capital Group Inc.’s holdings in AbbVie were worth $5,652,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of AbbVie during the 1st quarter worth $1,819,154,000. Assenagon Asset Management S.A. grew its position in shares of AbbVie by 550.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $581,817,000. Finally, Bessemer Group Inc. boosted its stake in AbbVie by 147.6% during the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on Tuesday, August 5th. The stock was 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. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.0%

Shares of ABBV opened at $220.75 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a market cap of $389.97 billion, a PE ratio of 105.12, a PEG ratio of 1.29 and a beta of 0.53. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16. The stock has a 50 day simple moving average of $206.24 and a 200-day simple moving average of $195.16.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 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 period in the prior year, the firm earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Finally, Citigroup increased their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $223.45.

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.