Caxton Associates LP Sells 13,425 Shares of AbbVie Inc. (NYSE:ABBV)

Caxton Associates LP lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 56.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,213 shares of the company’s stock after selling 13,425 shares during the period. Caxton Associates LP’s holdings in AbbVie were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Fairway Wealth LLC bought a new position in AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter valued at approximately $26,000. IFS Advisors LLC bought a new position in AbbVie in the 1st quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC bought a new position in AbbVie in the 1st quarter valued at approximately $37,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.1 %

ABBV opened at $191.29 on Thursday. 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 moving average is $190.36 and its 200 day moving average is $175.96. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The firm has a market capitalization of $337.79 billion, a P/E ratio of 56.76, a PEG ratio of 2.65 and a beta of 0.64.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, Barclays raised their price target on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Buy” and a consensus price target of $191.64.

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.