AbbVie Inc. (NYSE:ABBV) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 929,447 shares of the company’s stock after selling 45,255 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.05% of AbbVie worth $159,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the fourth quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $27,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC acquired a new position in AbbVie during the 1st quarter valued at approximately $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. BMO Capital Markets raised their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $191.64.

Insider Activity

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

AbbVie Trading Down 0.1 %

Shares of ABBV stock opened at $193.47 on Friday. The stock has a 50-day simple moving average of $189.35 and a 200 day simple moving average of $175.80. The stock has a market capitalization of $341.64 billion, a P/E ratio of 57.41, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts expect 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. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. AbbVie’s dividend payout ratio is currently 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.