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.
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, 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.
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