AbbVie Inc. (NYSE:ABBV) Shares Sold by Machina Capital S.A.S.

Posted by Defense World Staff on Jul 11th, 2023

Machina Capital S.A.S. cut its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 70.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 412 shares of the company’s stock after selling 988 shares during the period. Machina Capital S.A.S.’s holdings in AbbVie were worth $66,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Morgan Stanley lifted its position in AbbVie by 17.9% during the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after buying an additional 4,785,277 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in AbbVie by 89,097.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares in the last quarter. Norges Bank acquired a new position in AbbVie during the fourth quarter valued at approximately $3,033,348,000. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,020,912 shares of the company’s stock valued at $1,457,870,000 after buying an additional 101,354 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in AbbVie by 6.1% during the fourth quarter. California Public Employees Retirement System now owns 6,730,331 shares of the company’s stock valued at $1,087,689,000 after buying an additional 389,877 shares in the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Barclays lifted their price target on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Wells Fargo & Company dropped their price objective on shares of AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Guggenheim dropped their price objective on shares of AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. StockNews.com started coverage on shares of AbbVie in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Finally, Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In other news, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were 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 owns 35,330 shares of the company’s stock, valued at $5,829,450. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $5,711,801.10. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

AbbVie Stock Down 0.7 %

ABBV stock opened at $134.49 on Tuesday. 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 1-year low of $130.96 and a 1-year high of $168.11. The firm has a fifty day moving average price of $139.61 and a two-hundred day moving average price of $149.76. The firm has a market cap of $237.28 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.48 and a beta of 0.56.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate 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 firm earned $3.16 earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 10.92 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, July 13th. This represents a $5.92 annualized dividend and a yield of 4.40%. 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.