Norman Fields Gottscho Capital Management LLC Has $572,000 Stake in AbbVie Inc. (NYSE:ABBV)

Norman Fields Gottscho Capital Management LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,248 shares of the company’s stock after selling 740 shares during the quarter. Norman Fields Gottscho Capital Management LLC’s holdings in AbbVie were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Kalos Management Inc. bought a new position in AbbVie during the first quarter worth about $26,000. Boulder Wealth Advisors LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $31,000. Stone House Investment Management LLC bought a new position in shares of AbbVie during the 1st quarter valued at about $37,000. True Wealth Design LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $39,000. Finally, General Partner Inc. bought a new stake in AbbVie during the 1st quarter worth approximately $40,000. 67.86% of the stock is owned by institutional investors.

AbbVie Trading Down 1.0 %

Shares of AbbVie stock opened at $152.09 on Friday. The stock has a market cap of $268.45 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.74 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11. The business’s 50 day moving average is $146.09 and its 200-day moving average is $147.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $13.52 billion. Equities research analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is currently 121.81%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Piper Jaffray Companies lifted their price target on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Piper Sandler upped their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. HSBC initiated coverage on AbbVie in a research note on Friday, July 14th. They issued a “buy” rating and a $167.00 price target on the stock. Credit Suisse Group reduced their price objective on AbbVie from $170.00 to $160.00 in a research report on Wednesday, July 12th. Finally, TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.79.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the sale, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

AbbVie Company Profile

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.