AbbVie Inc. $ABBV Shares Bought by Financial Security Advisor Inc.

Financial Security Advisor Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,177 shares of the company’s stock after buying an additional 158 shares during the period. Financial Security Advisor Inc.’s holdings in AbbVie were worth $590,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Dohj LLC increased its holdings in shares of AbbVie by 41.8% in the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the period. First Hawaiian Bank increased its holdings in shares of AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares during the period. Narus Financial Partners LLC increased its holdings in shares of AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after purchasing an additional 401 shares during the period. BankPlus Trust Department increased its holdings in shares of AbbVie by 3.3% in the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after purchasing an additional 855 shares during the period. Finally, Highland Capital Management LLC increased its holdings in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after purchasing an additional 2,792 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.1%

ABBV opened at $231.03 on Friday. The business’s fifty day moving average is $214.12 and its two-hundred day moving average is $196.58. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market cap of $408.13 billion, a price-to-earnings ratio of 110.01, a PEG ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Evercore ISI lifted their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Morgan Stanley lifted their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the company an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.38.

About AbbVie

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.