AbbVie Inc. (NYSE:ABBV) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 80.1% during the second quarter, Holdings Channel reports. The firm owned 4,049 shares of the company’s stock after selling 16,318 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in AbbVie were worth $694,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth approximately $27,000. Able Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth $33,000. Finally, IFS Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at about $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. BMO Capital Markets lifted their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $191.64.

AbbVie Stock Up 1.5 %

Shares of ABBV stock opened at $194.79 on Monday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. 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 stock’s 50 day simple moving average is $191.54 and its 200 day simple moving average is $176.22. The company has a market capitalization of $343.97 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business posted $2.91 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 10.86 EPS 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 given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.18%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction 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 transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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.