AbbVie Inc. $ABBV Shares Sold by Bard Financial Services Inc.

by · The Cerbat Gem

Bard Financial Services Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,095 shares of the company’s stock after selling 1,125 shares during the period. AbbVie makes up approximately 1.5% of Bard Financial Services Inc.’s portfolio, making the stock its 12th largest position. Bard Financial Services Inc.’s holdings in AbbVie were worth $12,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Narus Financial Partners LLC increased its holdings in shares of AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after buying an additional 401 shares during the last quarter. Highland Capital Management LLC increased its holdings in shares of AbbVie by 6.3% during the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after buying an additional 2,792 shares during the last quarter. Weaver Capital Management LLC increased its holdings in shares of AbbVie by 3.9% during the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after buying an additional 310 shares during the last quarter. North Star Asset Management Inc. increased its holdings in shares of AbbVie by 0.5% during the 1st quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock worth $33,800,000 after buying an additional 756 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $3,879,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ABBV. Guggenheim lifted their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.10.

Check Out Our Latest Research Report on AbbVie

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction 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 completion of the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $218.40 on Monday. 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 $221.76. The stock has a market capitalization of $385.82 billion, a PE ratio of 104.00, a P/E/G ratio of 1.40 and a beta of 0.53. The firm has a 50 day moving average of $200.25 and a two-hundred day moving average of $194.45.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 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 analysts’ expectations of $14.93 billion. During the same period in the prior year, the business earned $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

AbbVie Profile

(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.

See Also