Aspiriant LLC Cuts Stock Position in AbbVie Inc. $ABBV

by · The Markets Daily

Aspiriant LLC lowered its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,396 shares of the company’s stock after selling 107 shares during the period. Aspiriant LLC’s holdings in AbbVie were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Marshall & Sullivan Inc. WA purchased a new position in AbbVie in the second quarter worth $25,000. TD Capital Management LLC boosted its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC purchased a new position in AbbVie in the first quarter worth $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie in the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. raised its stake in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group set a $251.00 target price on AbbVie in a research note on Friday, October 3rd. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research note on Thursday, August 7th. Wall Street Zen lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, HSBC set a $225.00 target price on AbbVie in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $234.05.

Read Our Latest Research Report on ABBV

AbbVie Stock Performance

NYSE:ABBV opened at $229.66 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The firm has a market cap of $405.71 billion, a price-to-earnings ratio of 109.36, a PEG ratio of 1.41 and a beta of 0.51. The business’s fifty day moving average is $217.91 and its 200 day moving average is $197.60.

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

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares in the company, 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 owned by corporate insiders.

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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