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

TCW Group Inc. cut its stake in AbbVie Inc. (NYSE:ABBVFree Report) 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:ABBVGet Free Report) 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.

Get Our Latest Stock Analysis on AbbVie

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet'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.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

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.