AbbVie Inc. (NYSE:ABBV) Shares Sold by Capstone Triton Financial Group LLC

Capstone Triton Financial Group LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,084 shares of the company’s stock after selling 55 shares during the period. Capstone Triton Financial Group LLC’s holdings in AbbVie were worth $1,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares in the last quarter. Capital International Investors boosted its stake in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares in the last quarter. Janus Henderson Group PLC grew its stake in AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AbbVie by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after purchasing an additional 1,291,201 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Truist Financial restated a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $191.64.

Insider Buying and Selling

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 stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other 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 transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV opened at $193.46 on Friday. The stock’s 50-day simple moving average is $189.35 and its 200-day simple moving average is $175.82. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm has a market cap of $341.62 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. AbbVie’s payout ratio is 183.98%.

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.