Tillman Hartley LLC Sells 418 Shares of AbbVie Inc. (NYSE:ABBV)

Tillman Hartley LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,126 shares of the company’s stock after selling 418 shares during the period. Tillman Hartley LLC’s holdings in AbbVie were worth $708,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABBV. MGO One Seven LLC raised its holdings in AbbVie by 9.9% in the second quarter. MGO One Seven LLC now owns 28,625 shares of the company’s stock worth $4,910,000 after buying an additional 2,589 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in AbbVie by 4.8% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 3,244 shares of the company’s stock valued at $556,000 after acquiring an additional 150 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in AbbVie by 1.0% during the 2nd quarter. Coldstream Capital Management Inc. now owns 58,666 shares of the company’s stock valued at $10,062,000 after purchasing an additional 602 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new position in shares of AbbVie in the second quarter worth $294,000. Finally, Gryphon Financial Partners LLC raised its stake in shares of AbbVie by 1.8% in the second quarter. Gryphon Financial Partners LLC now owns 85,952 shares of the company’s stock worth $14,743,000 after purchasing an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

NYSE ABBV opened at $199.35 on Wednesday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The business’s fifty day moving average is $185.07 and its 200 day moving average is $174.88. The company has a market capitalization of $352.12 billion, a PE ratio of 59.15, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the company posted $2.91 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Barclays boosted their target price on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $191.64.

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.