Capital Advisors Wealth Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,308 shares of the company’s stock after acquiring an additional 514 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in AbbVie were worth $1,658,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrive Wealth Management LLC boosted its holdings in AbbVie by 22.8% in the 2nd quarter. Thrive Wealth Management LLC now owns 5,572 shares of the company’s stock valued at $751,000 after purchasing an additional 1,034 shares during the last quarter. Worth Asset Management LLC boosted its holdings in AbbVie by 4.4% in the 2nd quarter. Worth Asset Management LLC now owns 1,818 shares of the company’s stock valued at $245,000 after purchasing an additional 77 shares during the last quarter. ARS Investment Partners LLC boosted its holdings in AbbVie by 5.4% in the 2nd quarter. ARS Investment Partners LLC now owns 30,813 shares of the company’s stock valued at $4,151,000 after purchasing an additional 1,572 shares during the last quarter. New Hampshire Trust raised its stake in shares of AbbVie by 0.4% in the 2nd quarter. New Hampshire Trust now owns 37,289 shares of the company’s stock valued at $5,024,000 after acquiring an additional 143 shares during the period. Finally, CRA Financial Services LLC raised its stake in shares of AbbVie by 1.8% in the 2nd quarter. CRA Financial Services LLC now owns 9,036 shares of the company’s stock valued at $1,217,000 after acquiring an additional 162 shares during the period. 67.86% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. HSBC assumed coverage on shares of AbbVie in a research note on Friday, July 14th. They issued a “buy” rating and a $167.00 price target on the stock. Piper Jaffray Companies boosted their price target on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Credit Suisse Group cut their target price on shares of AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Finally, William Blair assumed coverage on shares of AbbVie in a research note on Tuesday, July 25th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.79.
Insider Buying and Selling
In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the business’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 sale, the chief executive officer now directly owns 625,294 shares in the company, valued at $93,262,600.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
AbbVie Trading Up 1.2 %
ABBV opened at $153.93 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The firm’s 50 day moving average is $146.42 and its 200-day moving average is $147.44. The firm has a market capitalization of $271.69 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $168.11.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. Analysts expect that AbbVie Inc. will post 11.03 EPS for the current fiscal year.
AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is currently 121.81%.
AbbVie Company 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.
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