AbbVie Inc. $ABBV Shares Sold by Consilium Wealth Advisory LLC

Consilium Wealth Advisory LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company’s stock after selling 112 shares during the period. Consilium Wealth Advisory LLC’s holdings in AbbVie were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp boosted its stake in AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after purchasing an additional 189,294 shares during the period. Goldman Sachs Group Inc. boosted its stake in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AbbVie by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after purchasing an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in AbbVie by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after purchasing an additional 45,871 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Down 1.1%

NYSE ABBV opened at $234.07 on Friday. 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 50 day simple moving average is $210.77 and its 200 day simple moving average is $196.01. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.38 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the firm earned $2.65 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued 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 dividend yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

Analyst Ratings Changes

A number of research firms have issued reports on ABBV. Guggenheim boosted their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Cantor Fitzgerald boosted their target price on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. 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 research note on Thursday, August 7th. Finally, Evercore ISI upped their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $228.22.

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.