AbbVie Inc. (NYSE:ABBV) Holdings Cut by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 4.0% during the second quarter, HoldingsChannel.com reports. The fund owned 86,604 shares of the company’s stock after selling 3,588 shares during the period. Brown Brothers Harriman & Co.’s holdings in AbbVie were worth $14,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. AXS Investments LLC boosted its position in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares in the last quarter. West Coast Financial LLC boosted its holdings in AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares in the last quarter. FCG Investment Co acquired a new position in AbbVie in the first quarter worth approximately $1,413,000. Safeguard Financial LLC bought a new position in shares of AbbVie in the first quarter valued at $235,000. Finally, BluePath Capital Management LLC lifted its position in shares of AbbVie by 0.9% during the 1st 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. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, 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 transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $194.21 on Monday. The business has a fifty day simple moving average of $186.83 and a 200 day simple moving average of $175.22. 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 Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm has a market cap of $343.04 billion, a price-to-earnings ratio of 57.63, a P/E/G ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the company earned $2.91 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid 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 183.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Barclays boosted their price objective on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and issued a $210.00 target price (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Finally, Piper Sandler boosted their target price 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. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Company 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.