AbbVie Inc. $ABBV Shares Sold by Windle Wealth LLC

Windle Wealth LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,688 shares of the company’s stock after selling 135 shares during the quarter. AbbVie accounts for about 3.9% of Windle Wealth LLC’s portfolio, making the stock its 11th biggest holding. Windle Wealth LLC’s holdings in AbbVie were worth $7,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in AbbVie in the 1st quarter valued at about $5,224,000. GAMMA Investing LLC lifted its holdings in AbbVie by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after acquiring an additional 9,395 shares during the last quarter. Finally, Trueblood Wealth Management LLC lifted its holdings in AbbVie by 3.1% in the 1st quarter. Trueblood Wealth Management LLC now owns 6,306 shares of the company’s stock valued at $1,321,000 after acquiring an additional 192 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 completion of the transaction, 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. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABBV. Guggenheim upped their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. 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. Cantor Fitzgerald upped their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Wednesday. Finally, Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

AbbVie Price Performance

Shares of ABBV opened at $231.26 on Thursday. The company has a market capitalization of $408.53 billion, a price-to-earnings ratio of 110.12, a P/E/G ratio of 1.36 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. 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 business’s 50-day moving average is $213.28 and its 200-day moving average is $196.43.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.65 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio is currently 312.38%.

About AbbVie

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.