RoundAngle Advisors LLC Increases Position in AbbVie Inc. $ABBV

RoundAngle Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,051 shares of the company’s stock after purchasing an additional 109 shares during the period. AbbVie comprises 1.6% of RoundAngle Advisors LLC’s portfolio, making the stock its 29th largest holding. RoundAngle Advisors LLC’s holdings in AbbVie were worth $1,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Concord Asset Management LLC VA grew its stake in AbbVie by 27.9% during the second quarter. Concord Asset Management LLC VA now owns 7,759 shares of the company’s stock valued at $1,440,000 after acquiring an additional 1,691 shares in the last quarter. Total Clarity Wealth Management Inc. grew its stake in AbbVie by 12.2% during the second quarter. Total Clarity Wealth Management Inc. now owns 6,744 shares of the company’s stock valued at $1,252,000 after acquiring an additional 734 shares in the last quarter. Riverpoint Wealth Management Holdings LLC grew its stake in AbbVie by 0.9% during the second quarter. Riverpoint Wealth Management Holdings LLC now owns 8,577 shares of the company’s stock valued at $1,592,000 after acquiring an additional 78 shares in the last quarter. M.E. Allison & CO. Inc. grew its stake in AbbVie by 79.3% during the second quarter. M.E. Allison & CO. Inc. now owns 2,509 shares of the company’s stock valued at $466,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Lion Street Advisors LLC grew its stake in AbbVie by 13.8% during the second quarter. Lion Street Advisors LLC now owns 8,659 shares of the company’s stock valued at $1,607,000 after acquiring an additional 1,052 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction 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. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 sale, 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 position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Thursday, August 7th. Wall Street Zen cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company raised 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. UBS Group set a $251.00 price objective on shares of AbbVie in a research note on Friday, October 3rd. Finally, Bank of America lifted their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.90.

AbbVie Price Performance

AbbVie stock opened at $230.88 on Monday. The firm has a 50-day moving average price of $214.84 and a 200-day moving average price of $196.71. The firm has a market capitalization of $407.86 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. 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 Inc. has a 12-month low of $163.81 and a 12-month high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results 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 firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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

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.