AbbVie Inc. (NYSE:ABBV) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 142,903 shares of the company’s stock after selling 2,855 shares during the quarter. UMB Bank n.a.’s holdings in AbbVie were worth $28,220,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ABBV. Vanguard Group Inc. boosted its position in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares in the last quarter. Capital International Investors lifted its stake in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. TD Asset Management Inc boosted its holdings in AbbVie by 156.0% during the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Finally, Swedbank AB acquired a new stake in AbbVie during the first quarter valued at $367,372,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.3 %

Shares of ABBV traded down $0.63 during midday trading on Thursday, hitting $194.12. 494,229 shares of the stock were exchanged, compared to its average volume of 5,301,241. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market cap of $342.79 billion, a P/E ratio of 57.63, a P/E/G ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The stock has a fifty day simple moving average of $193.89 and a 200 day simple moving average of $177.18.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABBV shares. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley increased their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. BMO Capital Markets increased their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $198.00.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Profile

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.