Fiduciary Wealth Partners LLC Raises Stake in AbbVie Inc. $ABBV

Fiduciary Wealth Partners LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 43.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,658 shares of the company’s stock after acquiring an additional 503 shares during the period. Fiduciary Wealth Partners LLC’s holdings in AbbVie were worth $308,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABBV. Ingalls & Snyder LLC raised its holdings in AbbVie by 0.3% in the 2nd quarter. Ingalls & Snyder LLC now owns 137,061 shares of the company’s stock valued at $25,441,000 after buying an additional 344 shares during the period. Interchange Capital Partners LLC raised its holdings in AbbVie by 0.4% in the second quarter. Interchange Capital Partners LLC now owns 14,775 shares of the company’s stock valued at $2,743,000 after acquiring an additional 66 shares in the last quarter. Brighton Jones LLC boosted its position in shares of AbbVie by 2.4% during the 2nd quarter. Brighton Jones LLC now owns 28,020 shares of the company’s stock worth $5,201,000 after acquiring an additional 670 shares in the last quarter. Stegent Equity Advisors Inc. grew its position in shares of AbbVie by 79.3% in the 2nd quarter. Stegent Equity Advisors Inc. now owns 8,000 shares of the company’s stock valued at $1,485,000 after buying an additional 3,538 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in AbbVie by 4.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 12,948 shares of the company’s stock valued at $2,403,000 after acquiring an additional 561 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.1%

Shares of ABBV stock opened at $228.06 on Friday. The stock has a market cap of $402.87 billion, a P/E ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The business has a fifty day simple moving average of $220.69 and a 200-day simple moving average of $199.11.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS 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 business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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. This represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ABBV shares. Evercore ISI lifted their target price on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Wall Street Zen upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday. Cantor Fitzgerald set a $250.00 price objective on shares of AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.