Koss Olinger Consulting LLC Cuts Position in AbbVie Inc. $ABBV

Koss Olinger Consulting LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,913 shares of the company’s stock after selling 67 shares during the quarter. Koss Olinger Consulting LLC’s holdings in AbbVie were worth $541,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Conning Inc. grew its holdings in AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after buying an additional 12,690 shares in the last quarter. Dohj LLC grew its holdings in AbbVie by 41.8% during the 2nd quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after buying an additional 1,335 shares in the last quarter. First Hawaiian Bank grew its holdings in AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after buying an additional 60 shares in the last quarter. Narus Financial Partners LLC grew its holdings in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after buying an additional 401 shares in the last quarter. Finally, BankPlus Trust Department boosted its holdings in shares of AbbVie by 3.3% in the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock worth $5,033,000 after purchasing an additional 855 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday. Berenberg Bank raised 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 report on Wednesday, September 17th. Wells Fargo & Company boosted their target price on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Evercore ISI boosted their target price on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

Check Out Our Latest Stock Analysis on AbbVie

AbbVie Stock Performance

Shares of AbbVie stock opened at $227.98 on Tuesday. The stock’s fifty day moving average is $221.13 and its two-hundred day moving average is $199.58. The company has a market capitalization of $402.73 billion, a PE ratio of 108.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company 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. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

About AbbVie

(Free Report)

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.

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