AbbVie Inc. (NYSE:ABBV) Shares Sold by Boyd Watterson Asset Management LLC OH

Posted by Defense World Staff on Jul 3rd, 2023

Boyd Watterson Asset Management LLC OH trimmed its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,452 shares of the company’s stock after selling 708 shares during the period. AbbVie accounts for about 2.2% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 9th biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $5,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABBV. Retirement Income Solutions Inc bought a new position in AbbVie in the first quarter worth about $204,000. Ergoteles LLC lifted its holdings in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after acquiring an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in AbbVie in the first quarter worth about $1,150,000. Wsfs Capital Management LLC bought a new position in AbbVie in the first quarter worth about $562,000. Finally, Bridgewater Associates LP lifted its holdings in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after acquiring an additional 33,661 shares during the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,829,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Elaine K. Sorg sold 7,499 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $161.67, for a total transaction of $1,212,363.33. Following the transaction, the senior vice president now directly owns 35,330 shares in the company, valued at $5,711,801.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the transaction, the senior vice president now owns 35,330 shares in the company, valued at $5,829,450. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Guggenheim cut their price target on AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Barclays lifted their price target on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. StockNews.com began coverage on shares of AbbVie in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Morgan Stanley lifted their price target on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. Finally, Argus cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

AbbVie Stock Up 1.1 %

AbbVie stock opened at $134.73 on Monday. The firm has a market cap of $237.70 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.42 and a beta of 0.58. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11. The firm has a fifty day moving average price of $142.20 and a two-hundred day moving average price of $150.86.

AbbVie (NYSE:ABBV – Free Report) last released its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The firm had revenue of $12.23 billion during the quarter, compared to analyst estimates of $12.23 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The business’s revenue was down 9.7% on a year-over-year basis. As a group, analysts forecast that AbbVie Inc. will post 10.99 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 13th. This represents a $5.92 annualized dividend and a dividend yield of 4.39%. AbbVie’s payout ratio is 139.95%.

AbbVie Profile

(Free Report)

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.