Rep. Virginia Foxx Purchases Shares of AbbVie Inc. (NYSE:ABBV)

Representative Virginia Foxx (R-North Carolina) recently bought shares of AbbVie Inc. (NYSE:ABBV). In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in AbbVie stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

AbbVie Stock Down 0.5 %

NYSE ABBV traded down $0.88 on Thursday, reaching $178.65. The stock had a trading volume of 4,486,801 shares, compared to its average volume of 4,910,292. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The business has a 50 day moving average price of $179.54 and a 200 day moving average price of $184.38. The company has a market capitalization of $315.70 billion, a price-to-earnings ratio of 62.03, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Hanlon Investment Management Inc. acquired a new position in AbbVie in the second quarter valued at approximately $202,000. Los Angeles Capital Management LLC raised its holdings in AbbVie by 38.6% in the second quarter. Los Angeles Capital Management LLC now owns 233,256 shares of the company’s stock valued at $40,008,000 after buying an additional 64,979 shares during the period. Umpqua Bank grew its holdings in AbbVie by 24.4% during the 2nd quarter. Umpqua Bank now owns 2,210 shares of the company’s stock valued at $379,000 after purchasing an additional 433 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in AbbVie by 10,713.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 279,531 shares of the company’s stock worth $479,000 after acquiring an additional 276,946 shares in the last quarter. Finally, Chris Bulman Inc bought a new position in AbbVie during the second quarter worth $420,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.