TCW Group Inc. Decreases Position in AbbVie Inc. (NYSE:ABBV)

TCW Group Inc. cut its stake in AbbVie Inc. (NYSE:ABBV) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 359,308 shares of the company’s stock after selling 34,297 shares during the quarter. TCW Group Inc.’s holdings in AbbVie were worth $57,263,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kalos Management Inc. bought a new stake in AbbVie during the first quarter valued at approximately $26,000. Boulder Wealth Advisors LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $31,000. Stone House Investment Management LLC bought a new stake in AbbVie during the first quarter valued at approximately $37,000. True Wealth Design LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $39,000. Finally, General Partner Inc. bought a new stake in AbbVie during the first quarter valued at approximately $40,000. 67.86% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.2 %

ABBV stock opened at $148.75 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The stock has a market capitalization of $262.55 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.70 and a beta of 0.58. The firm’s fifty day simple moving average is $144.93 and its two-hundred day simple moving average is $147.54.

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

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.98%. AbbVie’s dividend payout ratio (DPR) is 121.81%.

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the transaction, the chief executive officer now directly owns 625,294 shares in the company, valued at $93,262,600.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABBV. StockNews.com began coverage on shares of AbbVie in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Piper Sandler boosted their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. TheStreet raised shares of AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. William Blair began coverage on shares of AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating on the stock. Finally, Credit Suisse Group lowered their target price on shares of AbbVie from $170.00 to $160.00 in a report 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. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $165.79.

AbbVie Profile

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.