Mutual Advisors LLC Has $6.62 Million Stock Holdings in AbbVie Inc. $ABBV

Mutual Advisors LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,813 shares of the company’s stock after purchasing an additional 909 shares during the quarter. Mutual Advisors LLC’s holdings in AbbVie were worth $6,624,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Generali Asset Management SPA SGR lifted its stake in shares of AbbVie by 0.3% in the 2nd quarter. Generali Asset Management SPA SGR now owns 84,294 shares of the company’s stock valued at $15,647,000 after purchasing an additional 245 shares during the period. Essex LLC raised its stake in AbbVie by 56.0% during the 2nd quarter. Essex LLC now owns 3,979 shares of the company’s stock worth $739,000 after buying an additional 1,429 shares during the period. Ritholtz Wealth Management raised its stake in AbbVie by 4.7% during the 2nd quarter. Ritholtz Wealth Management now owns 41,612 shares of the company’s stock worth $7,724,000 after buying an additional 1,877 shares during the period. Triton Wealth Management PLLC acquired a new stake in AbbVie during the 2nd quarter worth $342,000. Finally, Private Wealth Asset Management LLC raised its stake in AbbVie by 1.4% during the 2nd quarter. Private Wealth Asset Management LLC now owns 19,598 shares of the company’s stock worth $3,638,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’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 completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were 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 of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. HSBC set a $225.00 price objective on AbbVie in a research note on Thursday, October 2nd. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Finally, UBS Group set a $251.00 target price on AbbVie in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.90.

AbbVie Price Performance

ABBV stock opened at $226.31 on Thursday. The stock has a 50-day moving average price of $216.72 and a two-hundred day moving average price of $197.32. The stock has a market cap of $399.80 billion, a PE ratio of 107.77, a price-to-earnings-growth ratio of 1.48 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81.

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 the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business 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. 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 presently 312.38%.

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.