Semmax Financial Advisors Inc. Sells 78 Shares of AbbVie Inc. (NYSE:ABBV)

Semmax Financial Advisors Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443 shares of the company’s stock after selling 78 shares during the period. Semmax Financial Advisors Inc.’s holdings in AbbVie were worth $81,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. AdvisorNet Financial Inc lifted its position in AbbVie by 2.3% during the fourth quarter. AdvisorNet Financial Inc now owns 3,524 shares of the company’s stock valued at $546,000 after purchasing an additional 79 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in AbbVie by 1.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 27,442 shares of the company’s stock valued at $4,253,000 after purchasing an additional 460 shares in the last quarter. Clarus Wealth Advisors purchased a new position in AbbVie during the fourth quarter valued at $217,000. Coerente Capital Management purchased a new position in AbbVie during the fourth quarter valued at $238,000. Finally, Hutchens & Kramer Investment Management Group LLC purchased a new position in AbbVie during the fourth quarter valued at $272,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABBV shares. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie 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. Piper Sandler restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.71.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred 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 directly owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Up 2.8 %

Shares of NYSE:ABBV traded up $5.11 during trading on Thursday, hitting $190.43. The company had a trading volume of 4,606,687 shares, compared to its average volume of 5,574,774. The stock has a market cap of $336.27 billion, a price-to-earnings ratio of 56.10, a price-to-earnings-growth ratio of 2.45 and a beta of 0.64. AbbVie Inc. has a one year low of $135.85 and a one year high of $190.97. The company has a fifty day simple moving average of $169.01 and a two-hundred day simple moving average of $170.04. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. The business had revenue of $14.46 billion during 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%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.26%. AbbVie’s payout ratio is 183.98%.

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.