AbbVie Inc. (NYSE:ABBV) Shares Sold by Peoples Bank OH

Posted by Defense World Staff on Jul 9th, 2023

Peoples Bank OH reduced its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,150 shares of the company’s stock after selling 243 shares during the period. Peoples Bank OH’s holdings in AbbVie were worth $502,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group lifted its position in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after buying an additional 93 shares during the last quarter. Align Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth about $27,000. Red Tortoise LLC bought a new position in shares of AbbVie in the 4th quarter worth about $27,000. Boulder Wealth Advisors LLC bought a new position in shares of AbbVie in the 4th quarter worth about $31,000. Finally, My Personal CFO LLC bought a new position in shares of AbbVie in the 4th quarter worth about $32,000. 68.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Wells Fargo & Company cut their price objective on shares of AbbVie from $200.00 to $195.00 in a research report on Friday, April 28th. 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. Barclays lifted their price objective on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Finally, Morgan Stanley lifted their price objective on shares of AbbVie from $178.00 to $181.00 and gave the company an “overweight” rating in a research report on Monday, April 10th. Eight research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.40.

AbbVie Stock Performance

Shares of ABBV opened at $135.50 on Friday. The firm’s 50 day moving average is $140.00 and its 200-day moving average is $150.05. The stock has a market capitalization of $239.06 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.50 and a beta of 0.56. 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 12-month low of $130.96 and a 12-month high of $168.11.

AbbVie (NYSE:ABBV – Free Report) last announced its quarterly earnings data on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. The company had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. Equities research analysts anticipate that AbbVie Inc. will post 10.99 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $5.92 annualized dividend and a dividend yield of 4.37%. AbbVie’s dividend payout ratio is currently 139.95%.

Insider Transactions at AbbVie

In other news, SVP Elaine K. Sorg sold 6,130 shares of AbbVie stock in a transaction that occurred on 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 transaction, the senior vice president now directly 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 AbbVie stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the transaction, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Elaine K. Sorg sold 6,130 shares of AbbVie 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 completion of the transaction, the senior vice president now directly owns 35,330 shares in the company, valued at $5,829,450. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.