Vigilare Wealth Management Sells 619 Shares of AbbVie Inc. (NYSE:ABBV)

Vigilare Wealth Management lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,828 shares of the company’s stock after selling 619 shares during the quarter. Vigilare Wealth Management’s holdings in AbbVie were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Goepper Burkhardt LLC raised its position in AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares during the period. Naviter Wealth LLC grew its stake in shares of AbbVie by 0.9% in the first quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after buying an additional 68 shares in the last quarter. Delta Financial Group Inc. grew its stake in shares of AbbVie by 1.2% in the first quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock valued at $917,000 after buying an additional 68 shares in the last quarter. Sand Hill Global Advisors LLC grew its stake in shares of AbbVie by 0.4% in the first quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after buying an additional 68 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in shares of AbbVie by 0.6% in the first quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after buying an additional 70 shares in the last quarter. Institutional investors own 67.86% of the company’s stock.

AbbVie Stock Up 1.2 %

AbbVie stock opened at $153.93 on Tuesday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11. 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 company has a market capitalization of $271.69 billion, a P/E ratio of 31.67, a PEG ratio of 2.79 and a beta of 0.58. The stock has a 50-day simple moving average of $146.42 and a 200-day simple moving average of $147.44.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio is presently 121.81%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction 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 approximately $93,262,600.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Piper Sandler lifted their price objective on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. William Blair assumed coverage on AbbVie in a research note on Tuesday, July 25th. They set a “market perform” rating for the company. Piper Jaffray Companies boosted their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on AbbVie in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, Credit Suisse Group lowered their target price on AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.

About AbbVie

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.