TCV Trust & Wealth Management Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,096 shares of the company’s stock after selling 281 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in AbbVie were worth $1,994,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Pine Haven Investment Counsel Inc boosted its position in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the last quarter. Frisch Financial Group Inc. lifted its stake in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the period. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the last quarter. Sunflower Bank N.A. increased its stake in shares of AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after acquiring an additional 53 shares during the period. Finally, Professional Financial Advisors LLC raised its holdings in shares of AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Insiders Place Their Bets
In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on ABBV
AbbVie Price Performance
Shares of AbbVie stock opened at $187.85 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business has a 50 day simple moving average of $194.02 and a two-hundred day simple moving average of $178.34. The stock has a market capitalization of $331.72 billion, a P/E ratio of 55.74, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.91 EPS. As a group, analysts predict that AbbVie Inc. will post 10.85 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.30%. AbbVie’s dividend payout ratio is presently 183.98%.
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.
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