AbbVie Inc. (NYSE:ABBV) is Altman Advisors Inc.’s 9th Largest Position

Altman Advisors Inc. lowered its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,263 shares of the company’s stock after selling 438 shares during the quarter. AbbVie accounts for approximately 2.2% of Altman Advisors Inc.’s holdings, making the stock its 9th biggest holding. Altman Advisors Inc.’s holdings in AbbVie were worth $4,258,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sanders Morris Harris LLC boosted its position in AbbVie by 0.3% in the 1st quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock valued at $3,755,000 after buying an additional 62 shares during the period. Sax Wealth Advisors LLC lifted its position in shares of AbbVie by 0.9% during the 1st quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock worth $1,235,000 after purchasing an additional 66 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in AbbVie by 0.4% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock worth $2,856,000 after acquiring an additional 67 shares in the last quarter. Lenox Wealth Advisors LLC raised its stake in AbbVie by 5.3% during the 1st quarter. Lenox Wealth Advisors LLC now owns 1,344 shares of the company’s stock worth $235,000 after acquiring an additional 68 shares in the last quarter. Finally, Modus Advisors LLC increased its stake in AbbVie by 0.3% in the first quarter. Modus Advisors LLC now owns 19,907 shares of the company’s stock valued at $3,227,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 67.03% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $0.62 on Friday, hitting $139.54. The stock had a trading volume of 117,814 shares, compared to its average volume of 6,025,083. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. The firm’s 50 day moving average price is $147.75 and its 200-day moving average price is $150.05. The company has a market capitalization of $246.58 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 3.96 and a beta of 0.70.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.06. AbbVie had a return on equity of 157.31% and a net margin of 22.03%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the previous year, the firm earned $3.11 EPS. AbbVie’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s payout ratio is presently 79.89%.

Analysts Set New Price Targets

Several analysts have issued reports on ABBV shares. BMO Capital Markets upped their price target on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Piper Sandler decreased their target price on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. The Goldman Sachs Group raised their price target on shares of AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 12th. UBS Group dropped their price objective on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research note on Friday, May 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.29.

Insider Activity

In other news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $154.45, for a total value of $15,445,000.00. Following the completion of the sale, the insider now owns 152,103 shares of the company’s stock, valued at approximately $23,492,308.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $154.45, for a total value of $15,445,000.00. Following the sale, the insider now owns 152,103 shares in the company, valued at approximately $23,492,308.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,761 shares of company stock valued at $55,528,771. 0.08% of the stock is owned by insiders.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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