GoalVest Advisory LLC Has $2.77 Million Stock Holdings in AbbVie Inc. $ABBV

GoalVest Advisory LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,945 shares of the company’s stock after buying an additional 277 shares during the quarter. AbbVie comprises about 0.7% of GoalVest Advisory LLC’s portfolio, making the stock its 23rd largest holding. GoalVest Advisory LLC’s holdings in AbbVie were worth $2,774,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Capital Management LLC raised its stake in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the 2nd quarter worth about $25,000. Abound Financial LLC acquired a new stake in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the 1st quarter worth about $35,000. Finally, Bear Mountain Capital Inc. raised its stake in AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% 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.

AbbVie Price Performance

ABBV stock opened at $228.06 on Monday. The company has a 50 day simple moving average of $220.69 and a 200 day simple moving average of $199.24. The stock has a market cap of $402.87 billion, a price-to-earnings ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

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). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Analysts Set New Price Targets

Several brokerages have weighed in on ABBV. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research note on Friday, October 17th. Citigroup restated a “neutral” rating on shares of AbbVie in a research report on Monday, October 13th. Wall Street Zen upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday. Guggenheim boosted their target price on shares of AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Bank of America boosted their target price on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

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.