Rathbones Group PLC Sells 4,039 Shares of AbbVie Inc. (NYSE:ABBV)

Rathbones Group PLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,284 shares of the company’s stock after selling 4,039 shares during the period. Rathbones Group PLC’s holdings in AbbVie were worth $16,172,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. Capital International Investors lifted its stake in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AbbVie by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after acquiring an additional 1,291,201 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.1 %

ABBV opened at $194.21 on Monday. The stock has a fifty day moving average price of $186.83 and a 200-day moving average price of $175.22. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm has a market cap of $343.04 billion, a price-to-earnings ratio of 57.63, a PEG ratio of 2.66 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Barclays lifted their target price on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.