AbbVie Inc. (NYSE:ABBV) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 17.5% in the second quarter, Holdings Channel reports. The institutional investor owned 16,109 shares of the company’s stock after selling 3,414 shares during the period. AbbVie accounts for about 0.7% of Buckley Wealth Management LLC’s portfolio, making the stock its 27th largest position. Buckley Wealth Management LLC’s holdings in AbbVie were worth $2,170,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kalos Management Inc. acquired a new position in AbbVie during the first quarter worth $26,000. Boulder Wealth Advisors LLC purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $31,000. Stone House Investment Management LLC purchased a new stake in shares of AbbVie during the first quarter worth approximately $37,000. True Wealth Design LLC purchased a new position in AbbVie in the 4th quarter valued at $39,000. Finally, General Partner Inc. purchased a new stake in shares of AbbVie during the first quarter worth $40,000. 67.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ABBV shares. StockNews.com assumed coverage on shares of AbbVie in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Piper Sandler lifted their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. HSBC began coverage on shares of AbbVie in a research note on Friday, July 14th. They set a “buy” rating and a $167.00 target price on the stock. Finally, Piper Jaffray Companies increased their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $165.79.

Insider Transactions at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the sale, the chief executive officer now owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $153.93 on Tuesday. The company has a fifty day simple moving average of $146.42 and a 200-day simple moving average of $147.44. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. The stock has a market cap of $271.69 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $13.52 billion. Equities analysts expect that AbbVie Inc. will post 11.03 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is 121.81%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.