AbbVie Inc. $ABBV Shares Acquired by Asset One Wealth Management LLC

Asset One Wealth Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,838 shares of the company’s stock after buying an additional 2,537 shares during the quarter. Asset One Wealth Management LLC’s holdings in AbbVie were worth $6,759,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Verus Financial Partners Inc. increased its stake in shares of AbbVie by 1.7% in the 3rd quarter. Verus Financial Partners Inc. now owns 2,048 shares of the company’s stock worth $536,000 after acquiring an additional 35 shares during the last quarter. Evergreen Private Wealth LLC lifted its position in shares of AbbVie by 3.3% in the third quarter. Evergreen Private Wealth LLC now owns 1,090 shares of the company’s stock worth $285,000 after purchasing an additional 35 shares in the last quarter. Lifelong Wealth Advisors Inc. increased its position in AbbVie by 2.1% during the 3rd quarter. Lifelong Wealth Advisors Inc. now owns 1,755 shares of the company’s stock worth $459,000 after purchasing an additional 36 shares in the last quarter. IMG Wealth Management Inc. boosted its holdings in shares of AbbVie by 22.8% in the 3rd quarter. IMG Wealth Management Inc. now owns 194 shares of the company’s stock worth $51,000 after buying an additional 36 shares during the last quarter. Finally, Foundry Financial Group Inc. boosted its holdings in shares of AbbVie by 4.6% during the third quarter. Foundry Financial Group Inc. now owns 839 shares of the company’s stock worth $219,000 after purchasing an additional 37 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Rothschild & Co Redburn boosted their target price on shares of AbbVie from $284.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Scotiabank boosted their target price on AbbVie from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. Argus upped their price target on shares of AbbVie from $250.00 to $270.00 in a research report on Tuesday, August 4th. Bank of America reissued a “buy” rating on shares of AbbVie in a report on Tuesday, September 8th. Finally, Wolfe Research raised shares of AbbVie from a “peer perform” rating to an “outperform” rating and increased their price objective for the company from $235.00 to $300.00 in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.46.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s third-quarter results beat expectations, with revenue of $17.4 billion, and the company raised its full-year adjusted earnings outlook. The earnings report has strengthened the growth case for the shares. AbbVie stock climbs as Q3 earnings fuel growth case
• Positive Sentiment: A licensing agreement with Nxera Pharma for an EP4 agonist gives AbbVie another potential inflammatory bowel disease treatment candidate. The deal may add to its pipeline as investors assess the durability of its newer growth drivers. Nxera licenses EP4 agonist to AbbVie
• Positive Sentiment: AbbVie recently reached a fresh high following its earnings beat and a dividend increase, while analysts remain broadly optimistic. This supports investor interest in the stock as a defensive healthcare name. AbbVie’s new growth engines face another test
• Negative Sentiment: AbbVie’s shares have already climbed substantially and are near their 52-week high, leaving less room for disappointment. Humira’s decline also means the company must continue demonstrating that newer products can sustain growth. The one thing to settle before buying AbbVie stock

AbbVie Price Performance

NYSE ABBV opened at $291.51 on Friday. The stock has a market capitalization of $515.03 billion, a PE ratio of 50.17, a PEG ratio of 1.31 and a beta of 0.20. The business has a fifty day moving average price of $271.98 and a two-hundred day moving average price of $239.04. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $302.93.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The business had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same period in the previous year, the business earned $1.86 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 13.99 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.73. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.5%. AbbVie’s dividend payout ratio (DPR) is 119.10%.

AbbVie Company Profile

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.