AbbVie Inc. $ABBV Shares Acquired by Austin Private Wealth LLC

Austin Private Wealth LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 13.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,781 shares of the company’s stock after buying an additional 585 shares during the period. Austin Private Wealth LLC’s holdings in AbbVie were worth $887,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FF Advisors LLC lifted its position in AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after buying an additional 53 shares in the last quarter. Private Management Group Inc. lifted its position in AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares in the last quarter. LifeSteps Financial Inc. lifted its position in AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after buying an additional 54 shares in the last quarter. Silicon Valley Capital Partners lifted its position in AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after buying an additional 56 shares in the last quarter. Finally, Seneca House Advisors lifted its position in AbbVie by 2.7% during 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 in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $250.00 target price (up from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The shares were 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction 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 approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Down 0.2%

Shares of NYSE:ABBV opened at $227.67 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a fifty day simple moving average of $221.56 and a 200 day simple moving average of $199.96. The firm has a market cap of $402.19 billion, a PE ratio of 108.41, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is 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.