AbbVie Inc. (NYSE:ABBV) Shares Sold by LWM Advisory Services LLC

LWM Advisory Services LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.1% in the second quarter, Holdings Channel reports. The firm owned 1,570 shares of the company’s stock after selling 197 shares during the period. LWM Advisory Services LLC’s holdings in AbbVie were worth $269,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its stake in AbbVie by 9.8% during the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after buying an additional 861 shares during the period. Aveo Capital Partners LLC increased its position in shares of AbbVie by 5.1% during the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock worth $666,000 after acquiring an additional 210 shares during the last quarter. 9258 Wealth Management LLC increased its position in shares of AbbVie by 1.7% during the fourth quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock worth $2,620,000 after acquiring an additional 283 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of AbbVie by 1.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock worth $12,972,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth approximately $232,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were 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 approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’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 completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. BMO Capital Markets boosted their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie Trading Up 0.1 %

AbbVie stock opened at $194.18 on Friday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm’s 50 day moving average price is $186.83 and its two-hundred day moving average price is $175.26. The firm has a market cap of $342.99 billion, a price-to-earnings ratio of 57.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 EPS. On average, research analysts predict that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

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.