AbbVie Inc. (NYSE:ABBV) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,531 shares of the company’s stock after selling 135 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in AbbVie were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. International Assets Investment Management LLC acquired a new position in AbbVie during the fourth quarter worth $41,416,000. BOK Financial Private Wealth Inc. lifted its stake in AbbVie by 8.8% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 5,745 shares of the company’s stock worth $890,000 after acquiring an additional 464 shares in the last quarter. Cullen Investment Group LTD. purchased a new position in AbbVie during the 4th quarter valued at about $2,058,000. B&D White Capital Company LLC acquired a new position in AbbVie in the 4th quarter valued at about $10,890,000. Finally, Mackenzie Financial Corp increased its stake in AbbVie by 12.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,818,850 shares of the company’s stock worth $281,867,000 after purchasing an additional 195,901 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.2 %

NYSE:ABBV traded up $0.40 during midday trading on Thursday, hitting $193.40. 4,711,191 shares of the company were exchanged, compared to its average volume of 5,547,579. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $194.99. The company has a market capitalization of $341.52 billion, a PE ratio of 56.93, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The company has a fifty day simple moving average of $175.07 and a 200 day simple moving average of $171.79.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 10.87 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company upped their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $190.29.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.