Calton & Associates Inc. Sells 383 Shares of AbbVie Inc. (NYSE:ABBV)

Calton & Associates Inc. cut its position in AbbVie Inc. (NYSE:ABBV) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,604 shares of the company’s stock after selling 383 shares during the quarter. Calton & Associates Inc.’s holdings in AbbVie were worth $618,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Lokken Investment Group LLC boosted its holdings in AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after purchasing an additional 58 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in AbbVie by 0.6% during the first quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after buying an additional 59 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares in the last quarter. Spinnaker Investment Group LLC grew its position in shares of AbbVie by 1.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock valued at $741,000 after acquiring an additional 64 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of AbbVie by 1.1% in the 2nd quarter. Valley National Advisers Inc. now owns 5,671 shares of the company’s stock valued at $972,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock traded up $0.50 on Friday, reaching $193.90. The company had a trading volume of 3,675,149 shares, compared to its average volume of 5,535,780. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s fifty day moving average is $176.05 and its 200 day moving average is $172.20. The company has a market cap of $342.40 billion, a P/E ratio of 57.54, a PEG ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $194.99.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a $1.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling

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 transaction of $12,403,580.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred 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 sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ABBV. Barclays boosted their target price on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.29.

About AbbVie

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.