James J. Burns & Company LLC Decreases Position in AbbVie Inc. $ABBV

James J. Burns & Company LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,904 shares of the company’s stock after selling 102 shares during the period. James J. Burns & Company LLC’s holdings in AbbVie were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Home Federal Bank of Tennessee boosted its position in shares of AbbVie by 0.4% in the second quarter. Home Federal Bank of Tennessee now owns 17,447 shares of the company’s stock worth $3,239,000 after buying an additional 78 shares during the period. tru Independence LLC boosted its position in shares of AbbVie by 1.1% in the second quarter. tru Independence LLC now owns 19,314 shares of the company’s stock worth $3,585,000 after buying an additional 207 shares during the period. BCS Wealth Management boosted its position in shares of AbbVie by 8.0% in the second quarter. BCS Wealth Management now owns 6,369 shares of the company’s stock worth $1,182,000 after buying an additional 470 shares during the period. Accurate Wealth Management LLC boosted its position in shares of AbbVie by 9.2% in the second quarter. Accurate Wealth Management LLC now owns 18,632 shares of the company’s stock worth $3,633,000 after buying an additional 1,566 shares during the period. Finally, Maseco LLP purchased a new stake in shares of AbbVie in the second quarter worth about $1,353,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.1%

NYSE:ABBV opened at $222.88 on Wednesday. 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’s 50 day moving average is $204.47 and its two-hundred day moving average is $195.04. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $225.16. The company has a market cap of $393.74 billion, a PE ratio of 106.14, a P/E/G ratio of 1.33 and a beta of 0.53.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business earned $2.65 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts predict 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. Shareholders of record on Wednesday, October 15th will be issued 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 of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABBV shares. Cantor Fitzgerald upped their target price on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Finally, JPMorgan Chase & Co. increased their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.45.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred 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 directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.