AbbVie Inc. (NYSE:ABBV) Shares Acquired by MBA Advisors LLC

MBA Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 8.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,218 shares of the company’s stock after buying an additional 495 shares during the quarter. MBA Advisors LLC’s holdings in AbbVie were worth $1,067,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ABBV. International Assets Investment Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $41,416,000. Gilbert & Cook Inc. boosted its holdings in AbbVie by 9.8% in the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after purchasing an additional 861 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in AbbVie by 0.5% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 19,611 shares of the company’s stock worth $3,039,000 after buying an additional 100 shares during the last quarter. PYA Waltman Capital LLC lifted its holdings in AbbVie by 14.0% during the 4th quarter. PYA Waltman Capital LLC now owns 15,806 shares of the company’s stock worth $2,449,000 after buying an additional 1,939 shares during the last quarter. Finally, Cannell & Co. lifted its holdings in AbbVie by 1.8% during the 4th quarter. Cannell & Co. now owns 230,806 shares of the company’s stock worth $35,768,000 after buying an additional 4,060 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of AbbVie stock traded up $1.13 on Friday, reaching $196.31. The stock had a trading volume of 3,820,802 shares, compared to its average volume of 5,441,654. The business’s 50-day moving average price is $181.44 and its two-hundred day moving average price is $173.93. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $198.30. The stock has a market cap of $346.66 billion, a P/E ratio of 58.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the company earned $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley raised their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Wells Fargo & Company raised 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. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Finally, BMO Capital Markets raised their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.64.

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.