AbbVie Inc. $ABBV Shares Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,686 shares of the company’s stock after acquiring an additional 4,450 shares during the quarter. Savvy Advisors Inc.’s holdings in AbbVie were worth $4,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Marshall & Sullivan Inc. WA acquired a new position in AbbVie in the 2nd quarter worth approximately $25,000. TD Capital Management LLC raised its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC bought a new position in AbbVie in the 1st quarter worth $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the 1st quarter worth about $35,000. Finally, Bear Mountain Capital Inc. increased its holdings in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president 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 SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.0%

Shares of NYSE ABBV opened at $225.24 on Thursday. The company’s 50 day simple moving average is $221.89 and its 200 day simple moving average is $200.31. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The firm has a market capitalization of $397.90 billion, a P/E ratio of 107.26, a P/E/G ratio of 1.44 and a beta of 0.51. 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 posted its earnings results 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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and upped their target price for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a research note on Monday, October 13th. Finally, Wall Street Zen raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Company 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.