Cable Hill Partners LLC Sells 130 Shares of AbbVie Inc. (NYSE:ABBV)

Cable Hill Partners LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,062 shares of the company’s stock after selling 130 shares during the period. Cable Hill Partners LLC’s holdings in AbbVie were worth $458,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. OLD Mission Capital LLC acquired a new stake in AbbVie during the 3rd quarter valued at $242,000. Camden National Bank raised its stake in AbbVie by 2.3% during the 4th quarter. Camden National Bank now owns 10,924 shares of the company’s stock worth $1,171,000 after buying an additional 245 shares during the period. E Fund Management Co. Ltd. acquired a new stake in AbbVie during the 1st quarter worth $572,000. Quilter Plc raised its stake in AbbVie by 262.4% during the 1st quarter. Quilter Plc now owns 42,922 shares of the company’s stock worth $4,646,000 after buying an additional 31,077 shares during the period. Finally, Clayton Partners LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $2,315,000. Hedge funds and other institutional investors own 65.82% of the company’s stock.

ABBV traded up $0.21 during trading on Thursday, hitting $108.74. 154,804 shares of the stock traded hands, compared to its average volume of 7,008,608. AbbVie Inc. has a twelve month low of $79.11 and a twelve month high of $121.53. The company has a market cap of $192.16 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.01 and a beta of 0.82. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.91 and a quick ratio of 0.79. The business has a 50 day moving average price of $112.16 and a 200 day moving average price of $113.04.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 29th. The company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.09 by $0.02. AbbVie had a net margin of 12.40% and a return on equity of 154.24%. The business had revenue of $13.96 billion during the quarter, compared to the consensus estimate of $13.64 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The company’s revenue was up 33.9% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 12.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. AbbVie’s dividend payout ratio (DPR) is presently 49.24%.

A number of equities analysts recently commented on ABBV shares. Morgan Stanley reiterated a “buy” rating and set a $116.00 price target on shares of AbbVie in a report on Friday, August 20th. Cowen lifted their price target on AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd. Mizuho lifted their price target on AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Truist Securities assumed coverage on AbbVie in a report on Tuesday, July 27th. They set a “buy” rating and a $117.00 price objective for the company. Finally, Argus boosted their price objective on AbbVie from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $125.29.

In other news, SVP Carrie C. Strom sold 5,057 shares of the company’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $120.00, for a total transaction of $606,840.00. Following the completion of the transaction, the senior vice president now directly owns 11,595 shares in the company, valued at $1,391,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

AbbVie Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

See Also: What are momentum indicators and what do they show?

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.