AbbVie Inc. (NYSE:ABBV) Shares Sold by Roosevelt Investment Group LLC

Roosevelt Investment Group LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,900 shares of the company’s stock after selling 1,540 shares during the period. Roosevelt Investment Group LLC’s holdings in AbbVie were worth $4,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Private Portfolio Partners LLC boosted its stake in AbbVie by 2.8% in the second quarter. Private Portfolio Partners LLC now owns 9,995 shares of the company’s stock valued at $1,126,000 after acquiring an additional 276 shares in the last quarter. Day & Ennis LLC boosted its stake in AbbVie by 7.9% in the second quarter. Day & Ennis LLC now owns 17,699 shares of the company’s stock valued at $1,994,000 after acquiring an additional 1,298 shares in the last quarter. Prentice Wealth Management LLC boosted its stake in AbbVie by 23.2% in the second quarter. Prentice Wealth Management LLC now owns 4,238 shares of the company’s stock valued at $477,000 after acquiring an additional 798 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in AbbVie by 1.4% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 6,976 shares of the company’s stock valued at $786,000 after acquiring an additional 95 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in AbbVie by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,588,703 shares of the company’s stock valued at $291,592,000 after acquiring an additional 110,542 shares in the last quarter. Hedge funds and other institutional investors own 65.82% of the company’s stock.

In related news, SVP Carrie C. Strom sold 5,057 shares of the firm’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $120.00, for a total transaction of $606,840.00. Following the sale, the senior vice president now owns 11,595 shares in the company, valued at $1,391,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on ABBV shares. Barclays upped their price objective on shares of AbbVie from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Cowen upped their target price on shares of AbbVie from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 23rd. Daiwa Capital Markets started coverage on shares of AbbVie in a report on Friday, July 2nd. They issued an “outperform” rating for the company. SVB Leerink reduced their target price on shares of AbbVie from $148.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, September 2nd. Finally, Truist Securities began coverage on shares of AbbVie in a report on Tuesday, July 27th. They issued a “buy” rating and a $117.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $123.47.

Shares of ABBV stock traded up $0.35 during trading hours on Tuesday, hitting $106.75. The company’s stock had a trading volume of 102,946 shares, compared to its average volume of 7,056,760. The business has a fifty day moving average of $115.05 and a 200-day moving average of $112.81. The stock has a market cap of $188.65 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.01 and a beta of 0.82. AbbVie Inc. has a twelve month low of $79.11 and a twelve month high of $121.53. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 5.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 29th. The company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.09 by $0.02. The business had revenue of $13.96 billion for the quarter, compared to analyst estimates of $13.64 billion. AbbVie had a net margin of 12.40% and a return on equity of 154.24%. The company’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.87%. AbbVie’s dividend payout ratio is presently 49.24%.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

Recommended Story: Technical Analysis

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.