AbbVie Inc. $ABBV Stock Position Decreased by Montis Financial LLC

Montis Financial LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,717 shares of the company’s stock after selling 112 shares during the quarter. Montis Financial LLC’s holdings in AbbVie were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Capital Management LLC grew its holdings in AbbVie by 82.9% in 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 last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie during the 2nd quarter worth about $25,000. Abound Financial LLC acquired a new stake in AbbVie during the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the first quarter valued at $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Morgan Stanley lifted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Piper Sandler started coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price on the stock. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, BMO Capital Markets boosted their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Four investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.45.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

AbbVie Trading Up 1.1%

ABBV opened at $222.93 on Tuesday. The firm has a market cap of $393.82 billion, a PE ratio of 106.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $225.16. 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 firm’s fifty day moving average is $207.00 and its two-hundred day moving average is $195.12.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the prior year, the firm posted $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

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.