AbbVie Inc. $ABBV Shares Acquired by RFG Advisory LLC

RFG Advisory LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,824 shares of the company’s stock after buying an additional 2,380 shares during the quarter. RFG Advisory LLC’s holdings in AbbVie were worth $7,578,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $25,000. Abound Financial LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the 1st quarter worth approximately $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the first quarter worth approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ABBV shares. Wall Street Zen cut AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group set a $251.00 price target on AbbVie in a research report on Friday, October 3rd. HSBC set a $225.00 price target on AbbVie in a research report on Thursday, October 2nd. Guggenheim boosted their price target on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Piper Sandler boosted their price target on AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday. Three equities 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.90.

AbbVie Stock Down 0.1%

Shares of NYSE:ABBV opened at $230.36 on Tuesday. 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 business has a fifty day moving average of $215.50 and a two-hundred day moving average of $196.89. The stock has a market cap of $406.94 billion, a P/E ratio of 109.70, a PEG ratio of 1.42 and a beta of 0.51. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last issued 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 company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction on 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $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. 0.08% of the stock is owned by corporate insiders.

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.