Michael S. Ryan Inc. Purchases 174 Shares of AbbVie Inc. $ABBV

Michael S. Ryan Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,809 shares of the company’s stock after acquiring an additional 174 shares during the period. AbbVie comprises 0.4% of Michael S. Ryan Inc.’s portfolio, making the stock its 25th largest position. Michael S. Ryan Inc.’s holdings in AbbVie were worth $707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during 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 bought a new position in shares of AbbVie during the first quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the first quarter valued at about $35,000. Pinney & Scofield Inc. bought a new position in shares of AbbVie during the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie during the first quarter valued at about $42,000. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.10.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on 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 in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $218.40 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The company has a 50 day simple moving average of $200.25 and a two-hundred day simple moving average of $194.58. The company has a market capitalization of $385.82 billion, a price-to-earnings ratio of 104.00, a P/E/G ratio of 1.42 and a beta of 0.53. 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 (NYSE:ABBV) last announced its earnings results 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 business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 EPS. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend payout ratio 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.