Ameritas Advisory Services LLC Has $4.16 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Ameritas Advisory Services LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,258 shares of the company’s stock after selling 2,013 shares during the period. Ameritas Advisory Services LLC’s holdings in AbbVie were worth $4,161,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in AbbVie during the 4th quarter worth about $41,416,000. PGGM Investments acquired a new position in shares of AbbVie during the fourth quarter worth approximately $1,830,000. Stonebrook Private Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $407,000. Paradigm Financial Partners LLC increased its holdings in shares of AbbVie by 1.8% in the fourth quarter. Paradigm Financial Partners LLC now owns 6,817 shares of the company’s stock valued at $1,056,000 after purchasing an additional 120 shares in the last quarter. Finally, Magnus Financial Group LLC raised its position in shares of AbbVie by 11.8% during the fourth quarter. Magnus Financial Group LLC now owns 7,451 shares of the company’s stock worth $1,155,000 after acquiring an additional 785 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated 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 sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.1 %

ABBV stock traded down $0.16 during midday trading on Thursday, hitting $195.24. The company’s stock had a trading volume of 4,538,297 shares, compared to its average volume of 5,451,361. The company’s fifty day moving average price is $180.46 and its 200 day moving average price is $173.62. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $198.30. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market capitalization of $344.77 billion, a P/E ratio of 57.92, a PEG ratio of 2.49 and a beta of 0.64.

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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.91 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.18%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABBV. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. BMO Capital Markets boosted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Finally, Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.