Windsor Advisory Group LLC lowered its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,058 shares of the company’s stock after selling 129 shares during the period. AbbVie accounts for 0.8% of Windsor Advisory Group LLC’s holdings, making the stock its 29th biggest position. Windsor Advisory Group LLC’s holdings in AbbVie were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of ABBV. Retirement Income Solutions Inc acquired a new stake in AbbVie during the first quarter valued at $204,000. Ergoteles LLC raised its stake in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the period. First Western Trust Bank acquired a new stake in AbbVie in the 1st quarter valued at $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie during the first quarter valued at $562,000. Finally, Bridgewater Associates LP grew its position in shares of AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the period. 67.86% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Stock Performance
NYSE ABBV opened at $151.19 on Thursday. The business’s 50-day moving average price is $145.76 and its 200 day moving average price is $147.52. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The firm has a market cap of $266.86 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.70 and a beta of 0.58. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $168.11.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.12. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. On average, equities research analysts expect that AbbVie Inc. will post 11.03 earnings per share for the current year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $1.48 dividend. The ex-dividend date is Thursday, October 12th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.92%. AbbVie’s dividend payout ratio is presently 121.81%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. William Blair began coverage on shares of AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating on the stock. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. Piper Jaffray Companies increased their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. StockNews.com started coverage on shares of AbbVie in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. Finally, Credit Suisse Group decreased their price target on shares of AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $165.79.
Insider Buying and Selling at AbbVie
In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares in the company, valued at approximately $93,262,600.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.
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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