Angeles Investment Advisors LLC sells 1,415 shares of AbbVie Inc. (NYSE:ABBV)

Angeles Investment Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 46.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,644 shares of the company’s stock after selling 1,415 shares during the period. Angeles Investment Advisors LLC’s holdings in AbbVie were worth $282,000 as of its most recent SEC filing.

A number of other hedge funds have recently modified their positions in ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the fourth quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the second quarter valued at $27,000. Able Wealth Management LLC bought a new stake in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC bought a new stake in AbbVie in the 1st quarter worth $36,000. Finally, Quest Partners LLC boosted its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. 70.23% of shares are held by institutional investors.

AbbVie’s price performance

Shares of ABBV stock opened at $195.78 on Tuesday. The stock has a market cap of $345.72 billion, a PE ratio of 58.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71, and a current ratio of 0.81. AbbVie Inc. it has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company’s 50-day simple moving average is $187.41, and its two-hundred-day simple moving average is $175.36.

AbbVie (NYSE:ABBV – Get Your Free Report ) last announced its quarterly earnings data 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. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s revenue was up 4.3% compared to the same quarter last year. In the same quarter last year, the company earned $2.91 per share. Analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents an annualized dividend of $6.20 and a dividend yield of 3.17%. AbbVie’s dividend payout ratio is currently 183.98%.

Analysts set new price targets

Several analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th . Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average target price of $191.64, according to MarketBeat.com.

Check out our latest research report on AbbVie

Insider Trading at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on 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 completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s shares.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures and sells pharmaceutical products worldwide. The company offers Humira, an injection for Behçet’s autoimmune and intestinal diseases and pyoderma gangrenosum; Skyrizi for the treatment of 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 cancer; Epkinly for treating lymphoma; Elahere for treating cancer; and Venclexta/Venclyxto to treat blood cancers.

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