SageView Advisory Group LLC Increases Position in AbbVie Inc. $ABBV

SageView Advisory Group LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the 1st quarter, Holdings Channel reports. The fund owned 18,404 shares of the company’s stock after acquiring an additional 474 shares during the quarter. SageView Advisory Group LLC’s holdings in AbbVie were worth $3,856,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. TD Capital Management LLC grew its stake in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Siemens Fonds Invest GmbH grew its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on 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. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Piper Sandler initiated coverage on shares of AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $214.95.

AbbVie Price Performance

AbbVie stock opened at $210.46 on Wednesday. The firm has a market cap of $371.79 billion, a PE ratio of 100.22, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company’s 50 day moving average is $198.64 and its two-hundred day moving average is $194.25.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

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.