Northwest Quadrant Wealth Management LLC Trims Holdings in AbbVie Inc (NYSE:ABBV)

Share on StockTwits

Northwest Quadrant Wealth Management LLC reduced its holdings in shares of AbbVie Inc (NYSE:ABBV) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,185 shares of the company’s stock after selling 186 shares during the quarter. Northwest Quadrant Wealth Management LLC’s holdings in AbbVie were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC grew its holdings in shares of AbbVie by 4.7% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 2,789 shares of the company’s stock worth $212,000 after purchasing an additional 125 shares in the last quarter. NovaPoint Capital LLC grew its holdings in shares of AbbVie by 0.8% during the 1st quarter. NovaPoint Capital LLC now owns 15,707 shares of the company’s stock worth $1,197,000 after purchasing an additional 125 shares in the last quarter. Carmichael Hill & Associates Inc. grew its holdings in shares of AbbVie by 3.7% during the 1st quarter. Carmichael Hill & Associates Inc. now owns 3,535 shares of the company’s stock worth $269,000 after purchasing an additional 126 shares in the last quarter. Ellevest Inc. grew its holdings in shares of AbbVie by 10.9% during the 1st quarter. Ellevest Inc. now owns 1,325 shares of the company’s stock worth $101,000 after purchasing an additional 130 shares in the last quarter. Finally, Strategic Capital Advisers Inc. grew its holdings in shares of AbbVie by 4.6% during the 1st quarter. Strategic Capital Advisers Inc. now owns 2,959 shares of the company’s stock worth $225,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 72.44% of the company’s stock.

ABBV has been the topic of several recent analyst reports. Societe Generale lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. TheStreet raised AbbVie from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Mizuho boosted their price target on AbbVie from $101.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, June 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target on shares of AbbVie in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. AbbVie has an average rating of “Buy” and an average target price of $106.80.

NYSE ABBV traded down $2.04 on Thursday, reaching $97.24. The company had a trading volume of 1,848,928 shares, compared to its average volume of 7,589,935. The stock’s 50 day moving average is $94.62 and its 200-day moving average is $87.37. The stock has a market cap of $146.71 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.13 and a beta of 0.86. AbbVie Inc has a 52 week low of $62.55 and a 52 week high of $100.69.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 1st. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.17. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 earnings per share. As a group, equities research analysts predict that AbbVie Inc will post 10.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be paid a $1.18 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $4.72 dividend on an annualized basis and a yield of 4.85%. AbbVie’s payout ratio is 52.80%.

In other news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the completion of the transaction, the senior vice president now directly owns 52,760 shares of the company’s stock, valued at $4,748,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Carlos Alban sold 53,325 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total value of $5,332,500.00. Following the sale, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,794 shares of company stock valued at $9,057,485. Insiders own 0.09% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Featured Story: What is the Rule of 72?

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.