Beacon Financial Advisory LLC Boosts Stock Position in AbbVie Inc. $ABBV

Beacon Financial Advisory LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,172 shares of the company’s stock after purchasing an additional 405 shares during the period. Beacon Financial Advisory LLC’s holdings in AbbVie were worth $1,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FF Advisors LLC boosted its position in AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after purchasing an additional 53 shares during the last quarter. Private Management Group Inc. boosted its position in AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after purchasing an additional 54 shares during the last quarter. Silicon Valley Capital Partners boosted its position in AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares during the last quarter. Seneca House Advisors raised its stake in shares of AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after buying an additional 56 shares during the period. Finally, Castle Wealth Management LLC lifted its position in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Daiwa Capital Markets raised 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. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.22.

AbbVie Stock Performance

NYSE:ABBV opened at $234.07 on Friday. 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 52-week low of $163.81 and a 52-week high of $244.81. The firm has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. The business’s fifty day moving average is $210.77 and its 200 day moving average is $195.90.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’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 transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.