NTV Asset Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,972 shares of the company’s stock after selling 108 shares during the quarter. AbbVie accounts for 1.0% of NTV Asset Management LLC’s investment portfolio, making the stock its 22nd biggest holding. NTV Asset Management LLC’s holdings in AbbVie were worth $5,790,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Kalos Management Inc. purchased a new position in shares of AbbVie during the 1st quarter valued at $26,000. Miller Wealth Advisors LLC boosted its holdings in AbbVie by 140.0% in the second quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Stone House Investment Management LLC bought a new stake in AbbVie in the first quarter worth $37,000. Sanctuary Wealth Management L.L.C. bought a new stake in AbbVie in the second quarter worth $39,000. Finally, True Wealth Design LLC bought a new stake in AbbVie in the fourth quarter worth $39,000. 67.86% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at AbbVie
In other news, CEO Richard A. Gonzalez sold 18,500 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the sale, the chief executive officer now owns 625,294 shares in the company, valued at $93,262,600.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.
AbbVie Price Performance
ABBV traded down $0.66 during trading on Monday, hitting $145.57. The company’s stock had a trading volume of 619,660 shares, compared to its average volume of 5,455,780. The firm’s 50 day moving average price is $149.53 and its two-hundred day moving average price is $146.48. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11. The stock has a market capitalization of $256.94 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.12. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. Sell-side analysts forecast that AbbVie Inc. will post 11.02 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, October 12th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.07%. AbbVie’s payout ratio is currently 121.81%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. HSBC assumed coverage on shares of AbbVie in a report on Friday, July 14th. They issued a “buy” rating and a $167.00 price objective for the company. StockNews.com began coverage on shares of AbbVie in a report on Thursday, October 5th. They set a “strong-buy” rating for the company. Raymond James began coverage on shares of AbbVie in a report on Thursday, September 28th. They set an “outperform” rating and a $177.00 price target for the company. Credit Suisse Group decreased their price target on shares of AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Finally, TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.25.
Check Out Our Latest Stock Report on AbbVie
AbbVie Company Profile
(Free Report)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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