V Square Quantitative Management LLC Has $1.83 Million Stake in AbbVie Inc. $ABBV

V Square Quantitative Management LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 3.4% in the second quarter, HoldingsChannel reports. The firm owned 9,862 shares of the company’s stock after selling 349 shares during the period. V Square Quantitative Management LLC’s holdings in AbbVie were worth $1,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC boosted its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the 1st quarter valued at $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $220.75 on Monday. The company has a market capitalization of $389.97 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. AbbVie Inc. has a one year low of $163.81 and a one year high of $225.16. 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 company’s fifty day moving average price is $206.24 and its 200 day moving average price is $195.04.

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

AbbVie Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. BMO Capital Markets lifted their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Finally, Piper Sandler started coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.