AbbVie Inc. (NYSE:ABBV) Holdings Cut by Fort Sheridan Advisors LLC

Financial News Live · Aug 7, 2022 04:51

Fort Sheridan Advisors LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,566 shares of the company's stock after selling 1,313 shares during the period. AbbVie comprises about 1.0% of Fort Sheridan Advisors LLC's investment portfolio, making the stock its 21st biggest holding. Fort Sheridan Advisors LLC's holdings in AbbVie were worth $3,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $2,433,269,000. State Street Corp increased its stake in shares of AbbVie by 3.4% in the fourth quarter. State Street Corp now owns 79,357,705 shares of the company's stock valued at $10,745,033,000 after purchasing an additional 2,597,076 shares during the period. Capital International Investors increased its stake in shares of AbbVie by 19.7% during the fourth quarter. Capital International Investors now owns 11,615,068 shares of the company's stock valued at $1,572,680,000 after acquiring an additional 1,913,451 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of AbbVie by 51.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,533,034 shares of the company's stock valued at $752,074,000 after acquiring an additional 1,874,609 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of AbbVie by 12.2% during the fourth quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company's stock valued at $2,211,319,000 after acquiring an additional 1,771,090 shares during the period. Institutional investors own 67.03% of the company's stock.

Get AbbVie alerts:

Insider Buying and Selling at AbbVie

In other news, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares of the company's stock, valued at $2,576,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $154.45, for a total value of $15,445,000.00. Following the transaction, the insider now directly owns 152,103 shares of the company's stock, valued at $23,492,308.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at $2,576,565. The disclosure for this sale can be found here. Insiders sold a total of 363,761 shares of company stock worth $55,528,771 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on ABBV. The Goldman Sachs Group raised their price objective on shares of AbbVie from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, April 12th. Morgan Stanley decreased their price target on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a research report on Monday, August 1st. Wells Fargo & Company raised their price objective on shares of AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. Barclays raised their price objective on shares of AbbVie from $150.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 12th. Finally, StockNews.com raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.50.

AbbVie Stock Down 0.6 %

Shares of ABBV stock opened at $138.04 on Friday. The firm has a fifty day moving average of $147.52 and a 200-day moving average of $150.06. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company has a market capitalization of $243.93 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.90 and a beta of 0.70.

AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.31 by $0.06. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the prior year, the company posted $3.11 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Thursday, July 14th. AbbVie's dividend payout ratio is currently 79.89%.

About AbbVie

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.