AbbVie Inc. $ABBV Shares Purchased by Quent Capital LLC

Quent Capital LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,479 shares of the company’s stock after purchasing an additional 84 shares during the quarter. Quent Capital LLC’s holdings in AbbVie were worth $1,759,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the period. Retirement Planning Group LLC lifted its position in AbbVie by 12.3% during the 1st quarter. Retirement Planning Group LLC now owns 3,049 shares of the company’s stock worth $639,000 after acquiring an additional 335 shares during the period. Vest Financial LLC lifted its position in AbbVie by 9.0% during the 1st quarter. Vest Financial LLC now owns 336,659 shares of the company’s stock worth $70,537,000 after acquiring an additional 27,877 shares during the period. Finally, Foster Group Inc. lifted its position in AbbVie by 10.0% during the 1st quarter. Foster Group Inc. now owns 7,901 shares of the company’s stock worth $1,655,000 after acquiring an additional 719 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV opened at $234.07 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.38 and a beta of 0.51. The business has a 50 day moving average price of $210.77 and a 200 day moving average price of $196.01. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same period in the previous year, the business earned $2.65 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BMO Capital Markets increased their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Finally, HSBC set a $225.00 target price on AbbVie in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $228.22.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Profile

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.