Kathmere Capital Management LLC Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Kathmere Capital Management LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,198 shares of the company’s stock after selling 71 shares during the period. Kathmere Capital Management LLC’s holdings in AbbVie were worth $377,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. American National Bank increased its stake in shares of AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after purchasing an additional 2,695 shares in the last quarter. AXS Investments LLC raised its holdings in 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 acquiring an additional 307 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares during the period. Finally, Opinicus Capital Inc. bought a new position in shares of AbbVie in the fourth quarter worth $1,296,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE ABBV traded down $0.42 on Friday, reaching $189.29. 6,303,909 shares of the company’s stock traded hands, compared to its average volume of 5,147,175. The stock has a market cap of $334.26 billion, a PE ratio of 56.17, a P/E/G ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $193.91. The stock has a 50-day simple moving average of $170.28 and a 200 day simple moving average of $170.42. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.91 EPS. As a group, research analysts predict that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Piper Sandler restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Barclays raised their price target on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $188.71.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was 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 owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

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.