Livelsberger Financial Advisory Purchases 435 Shares of AbbVie Inc. $ABBV

Livelsberger Financial Advisory boosted its position in AbbVie Inc. (NYSE:ABBV) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,564 shares of the company’s stock after acquiring an additional 435 shares during the quarter. AbbVie accounts for 16.4% of Livelsberger Financial Advisory’s investment portfolio, making the stock its biggest position. Livelsberger Financial Advisory’s holdings in AbbVie were worth $847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Capital Management LLC boosted its holdings in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in AbbVie in the first quarter valued at $30,000. Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the first quarter worth about $35,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.8%

NYSE:ABBV opened at $218.40 on Monday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a one year low of $163.81 and a one year high of $221.76. The business’s 50-day simple moving average is $200.25 and its 200 day simple moving average is $194.45. The stock has a market cap of $385.82 billion, a price-to-earnings ratio of 104.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 analyst estimates of $14.93 billion. During the same quarter last year, the firm posted $2.65 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share 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 issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.10.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 approximately $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. 0.08% of the stock is owned by insiders.

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.