AbbVie Inc. (NYSE:ABBV) Shares Sold by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,116 shares of the company’s stock after selling 91 shares during the quarter. Perennial Investment Advisors LLC’s holdings in AbbVie were worth $507,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $25,000. Intelligent Financial Strategies acquired a new stake in AbbVie during the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new position in shares of AbbVie in the 1st quarter worth approximately $33,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of AbbVie in the 1st quarter worth approximately $34,000. Finally, Steward Financial Group LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 67.03% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded up $0.12 during midday trading on Friday, reaching $139.04. The stock had a trading volume of 140,017 shares, compared to its average volume of 6,025,083. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The firm’s 50 day moving average price is $147.75 and its 200-day moving average price is $150.05. The company has a market capitalization of $245.70 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.96 and a beta of 0.70.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.06. AbbVie had a return on equity of 157.31% and a net margin of 22.03%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the business earned $3.11 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a $1.41 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a yield of 4.06%. AbbVie’s dividend payout ratio is currently 79.89%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Atlantic Securities decreased their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company boosted their price objective on AbbVie from $165.00 to $200.00 in a research report on Monday, May 2nd. Morgan Stanley reduced their price objective on AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group reduced their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a research report on Monday. Finally, SVB Leerink started coverage on AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $159.29.

Insiders Place Their Bets

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 152,103 shares in the company, valued at $23,492,308.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at $2,576,565. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $154.45, for a total transaction of $15,445,000.00. Following the completion of the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $23,492,308.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 363,761 shares of company stock worth $55,528,771. Company insiders own 0.08% of the company’s stock.

AbbVie Company Profile

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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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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