BSW Wealth Partners Sells 87 Shares of AbbVie Inc. (NYSE:ABBV)

Posted by Defense World Staff on Sep 12th, 2023

BSW Wealth Partners trimmed its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,929 shares of the company’s stock after selling 87 shares during the quarter. BSW Wealth Partners’ holdings in AbbVie were worth $1,582,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in AbbVie by 17.9% in the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after acquiring an additional 4,785,277 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after acquiring an additional 29,170,366 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 138.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,536,656 shares of the company’s stock worth $3,432,297,000 after acquiring an additional 12,515,744 shares in the last quarter. Norges Bank bought a new stake in AbbVie in the fourth quarter worth $3,033,348,000. Finally, Dimensional Fund Advisors LP boosted its holdings in AbbVie by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,575,062 shares of the company’s stock worth $1,207,204,000 after acquiring an additional 121,787 shares in the last quarter. 67.86% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Credit Suisse Group decreased their price target on AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Piper Sandler boosted their price target on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Piper Jaffray Companies boosted their price target on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. William Blair initiated coverage on AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating for the company. Finally, StockNews.com initiated coverage on AbbVie in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.79.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Stock Performance

NYSE ABBV opened at $149.03 on Tuesday. The firm has a market cap of $263.05 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The business has a 50-day moving average price of $145.21 and a 200-day moving average price of $147.51. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. As a group, equities research analysts predict that AbbVie Inc. will post 11.03 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is presently 121.81%.

AbbVie Company 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.