AbbVie Inc. (NYSE:ABBV) Shares Acquired by One Capital Management LLC

One Capital Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 60.9% during the second quarter, HoldingsChannel reports. The firm owned 11,976 shares of the company’s stock after purchasing an additional 4,533 shares during the period. One Capital Management LLC’s holdings in AbbVie were worth $2,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC acquired a new position in AbbVie during the first quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new position in AbbVie during the first quarter worth $37,000. Finally, Quest Partners LLC boosted its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV opened at $195.78 on Tuesday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a market capitalization of $345.72 billion, a price-to-earnings ratio of 58.09, a P/E/G ratio of 2.66 and a beta of 0.64. The business’s 50-day moving average price is $187.41 and its two-hundred day moving average price is $175.36. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.17%. AbbVie’s payout ratio is 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other 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 transaction of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, Morgan Stanley increased their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Buy” and a consensus target price of $191.64.

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.