AbbVie Inc. (NYSE:ABBV) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,643 shares of the company’s stock after selling 1,755 shares during the period. AbbVie makes up about 1.7% of Middleton & Co. Inc. MA’s holdings, making the stock its 18th biggest position. Middleton & Co. Inc. MA’s holdings in AbbVie were worth $15,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Frisch Financial Group Inc. lifted its stake in shares of AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after purchasing an additional 53 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of AbbVie by 1.3% during the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares in the last quarter. Hilltop Partners LLC grew its position in shares of AbbVie by 1.4% in the 2nd quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock valued at $662,000 after purchasing an additional 55 shares during the period. Lokken Investment Group LLC increased its stake in AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC raised its holdings in AbbVie by 1.0% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.3 %

ABBV opened at $192.89 on Thursday. The stock’s fifty day simple moving average is $188.41 and its 200 day simple moving average is $175.58. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The stock has a market cap of $340.62 billion, a PE ratio of 57.24, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.91 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of several research reports. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Truist Financial restated a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $191.64.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

About AbbVie

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.