Elgethun Capital Management reduced its position in AbbVie Inc. (NYSE:ABBV)

Elgethun Capital Management reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,092 shares of the company’s stock after selling 153 shares during the quarter. Elgethun Capital Management’s holdings in AbbVie were worth $1,216,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ABBV. West Coast Financial LLC boosted its holdings in AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after acquiring an additional 140 shares during the period. FCG Investment Co acquired a new stake in AbbVie in the first quarter worth $1,413,000. Safeguard Financial LLC purchased a new position in AbbVie in the first quarter valued at about $235,000. BluePath Capital Management LLC raised its stake in AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 shares during the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $87,000. Institutional investors and hedge funds own 70.23% of the company’s shares.

Indoor activity

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

AbbVie trades down 1.1%

NYSE:ABBV opened at $191.29 on Thursday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a fifty day moving average of $190.36 and a 200 day moving average of $175.96. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71, and a current ratio of 0.81. The stock has a market cap of $337.79 billion, a price-to-earnings ratio of 56.76, a PEG ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV – Get Your Free Report ) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm 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%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. In the same quarter last year, the company earned $2.91 EPS. Stock analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current 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 a dividend of $6.20 on an annualized basis and a yield of 3.24%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

The Wall Street analyst weighs in

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays upped their target price on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $191.64, according to MarketBeat.

Get the latest report on ABBV

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 the treatment of cancer; and Venclexta/Venclyxto to treat blood cancers.

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