Childress Capital Advisors LLC Raises Holdings in AbbVie Inc. $ABBV

Childress Capital Advisors LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 25.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,310 shares of the company’s stock after buying an additional 1,667 shares during the period. Childress Capital Advisors LLC’s holdings in AbbVie were worth $1,542,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABBV. FF Advisors LLC increased its position in AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after buying an additional 53 shares in the last quarter. Private Management Group Inc. grew its position in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after purchasing an additional 54 shares in the last quarter. Silicon Valley Capital Partners grew its position in shares of AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares in the last quarter. Seneca House Advisors grew its position in shares of AbbVie by 2.7% during the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares in the last quarter. Finally, Castle Wealth Management LLC grew its position in shares of AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other 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 sale, 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 Securities & Exchange Commission, which is available at this link. 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 sale, 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. 0.08% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $231.47 on Wednesday. The firm has a market cap of $408.91 billion, a PE ratio of 110.22, a PEG ratio of 1.31 and a beta of 0.53. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $232.35. The stock has a 50 day moving average of $207.89 and a 200 day moving average of $195.37. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. On average, research analysts expect 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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABBV. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. increased their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Citigroup increased their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Finally, Bank of America increased their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.45.

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.