O Brien Greene & Co. Inc Has $2.10 Million Position in AbbVie Inc. (NYSE:ABBV)

O Brien Greene & Co. Inc lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 37.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,261 shares of the company’s stock after selling 7,337 shares during the period. O Brien Greene & Co. Inc’s holdings in AbbVie were worth $2,103,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. AXS Investments LLC raised its position in AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after purchasing an additional 307 shares in the last quarter. West Coast Financial LLC raised its position in AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after purchasing an additional 140 shares in the last quarter. FCG Investment Co acquired a new position in AbbVie in the first quarter worth about $1,413,000. Safeguard Financial LLC acquired a new position in AbbVie in the first quarter worth about $235,000. Finally, BluePath Capital Management LLC raised its position in AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Barclays increased their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Buy” and a consensus price target of $191.64.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on 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 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. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV opened at $193.50 on Wednesday. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company’s 50 day simple moving average is $187.92 and its 200-day simple moving average is $175.46. The stock has a market capitalization of $341.70 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. AbbVie’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

About AbbVie

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.