Brown Financial Advisory Buys 662 Shares of AbbVie Inc. $ABBV

Brown Financial Advisory increased its stake in AbbVie Inc. (NYSE:ABBV) by 21.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,713 shares of the company’s stock after purchasing an additional 662 shares during the period. AbbVie makes up approximately 0.4% of Brown Financial Advisory’s portfolio, making the stock its 22nd biggest holding. Brown Financial Advisory’s holdings in AbbVie were worth $689,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Courier Capital LLC increased its position in shares of AbbVie by 0.6% in the second quarter. Courier Capital LLC now owns 15,227 shares of the company’s stock worth $2,826,000 after purchasing an additional 85 shares during the last quarter. Sagespring Wealth Partners LLC increased its position in shares of AbbVie by 42.5% in the second quarter. Sagespring Wealth Partners LLC now owns 33,859 shares of the company’s stock worth $6,285,000 after purchasing an additional 10,105 shares during the last quarter. Equitable Trust Co. increased its position in shares of AbbVie by 0.5% in the second quarter. Equitable Trust Co. now owns 35,939 shares of the company’s stock worth $6,671,000 after purchasing an additional 193 shares during the last quarter. TD Asset Management Inc increased its position in shares of AbbVie by 15.9% in the second quarter. TD Asset Management Inc now owns 3,735,815 shares of the company’s stock worth $693,442,000 after purchasing an additional 512,440 shares during the last quarter. Finally, IFC Advisors LLC increased its position in shares of AbbVie by 2.3% in the second quarter. IFC Advisors LLC now owns 2,681 shares of the company’s stock worth $498,000 after purchasing an additional 60 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s 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 completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’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 of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on ABBV shares. BMO Capital Markets upped their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Wall Street Zen lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group set a $251.00 target price on AbbVie in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.90.

AbbVie Stock Down 0.5%

Shares of AbbVie stock opened at $229.19 on Wednesday. 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 stock has a market capitalization of $404.88 billion, a price-to-earnings ratio of 109.14, a P/E/G ratio of 1.47 and a beta of 0.51. The company’s 50 day moving average price is $216.12 and its 200-day moving average price is $197.12.

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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the business posted $2.65 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

AbbVie Company 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.