AbbVie Inc. (NYSE:ABBV) Stake Reduced by Poehling Capital Management INC.

Poehling Capital Management INC. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 68.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,207 shares of the company’s stock after selling 9,058 shares during the period. Poehling Capital Management INC.’s holdings in AbbVie were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the fourth quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter worth $27,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the first quarter valued at $36,000. Finally, Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the 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 completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 0.1 %

Shares of NYSE:ABBV opened at $194.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $343.04 billion, a PE ratio of 57.63, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm has a fifty day moving average price of $186.83 and a 200 day moving average price of $175.24.

AbbVie (NYSE:ABBV) last released its quarterly 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 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 quarter in the prior year, the company posted $2.91 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Analysts Set New Price Targets

Several research analysts have commented on ABBV shares. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Barclays lifted their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Buy” and a consensus price target of $191.64.

AbbVie 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.