Kathmere Capital Management LLC Sells 1,011 Shares of AbbVie Inc. (NYSE:ABBV)

Kathmere Capital Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 27.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,607 shares of the company’s stock after selling 1,011 shares during the period. Kathmere Capital Management LLC’s holdings in AbbVie were worth $351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kalos Management Inc. acquired a new position in shares of AbbVie in the 1st quarter valued at $26,000. Boulder Wealth Advisors LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $31,000. Stone House Investment Management LLC purchased a new position in shares of AbbVie during the first quarter worth $37,000. True Wealth Design LLC acquired a new position in AbbVie during the fourth quarter valued at $39,000. Finally, General Partner Inc. acquired a new stake in AbbVie during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 67.86% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $152.12 on Monday. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11. The stock has a market cap of $268.50 billion, a PE ratio of 31.30, a P/E/G ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 4.33, a quick ratio of 0.77 and a current ratio of 0.89. The stock has a 50 day moving average price of $146.42 and a 200 day moving average price of $147.44.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. Equities research analysts expect that AbbVie Inc. will post 11.03 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio is presently 121.81%.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the sale, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ABBV. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Piper Jaffray Companies lifted their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. StockNews.com initiated coverage on shares of AbbVie in a research note on Thursday, August 17th. They set a “strong-buy” rating on the stock. Piper Sandler lifted their price target on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Finally, William Blair began coverage on AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $165.79.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.