Dakota Community Bank & Trust NA lessened its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,702 shares of the company’s stock after selling 93 shares during the period. AbbVie comprises 2.1% of Dakota Community Bank & Trust NA’s portfolio, making the stock its 9th biggest holding. Dakota Community Bank & Trust NA’s holdings in AbbVie were worth $364,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Kalos Management Inc. acquired a new position in shares of AbbVie in the 1st quarter valued at $26,000. Boulder Wealth Advisors LLC acquired a new position in AbbVie in the fourth quarter worth about $31,000. Stone House Investment Management LLC bought a new position in AbbVie during the first quarter worth about $37,000. True Wealth Design LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $39,000. Finally, General Partner Inc. bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $40,000. 67.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. HSBC began coverage on shares of AbbVie in a research note on Friday, July 14th. They issued a “buy” rating and a $167.00 target price on the stock. William Blair initiated coverage on shares of AbbVie in a research report on Tuesday, July 25th. They set a “market perform” rating for the company. Credit Suisse Group reduced their price target on shares of AbbVie from $170.00 to $160.00 in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies raised their price objective on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.
Insider Buying and Selling
In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by insiders.
AbbVie Stock Performance
Shares of NYSE:ABBV opened at $152.12 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11. The stock has a market capitalization of $268.50 billion, a P/E ratio of 31.30, a P/E/G ratio of 2.74 and a beta of 0.58. The business has a 50-day moving average price of $146.42 and a two-hundred day moving average price of $147.50.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. Equities analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $1.48 dividend. The ex-dividend date is Thursday, October 12th. This represents a $5.92 annualized dividend and a dividend yield of 3.89%. AbbVie’s dividend payout ratio is currently 121.81%.
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.
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