Ausdal Financial Partners Inc. Has $5.50 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Ausdal Financial Partners Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 32,087 shares of the company’s stock after acquiring an additional 273 shares during the period. Ausdal Financial Partners Inc.’s holdings in AbbVie were worth $5,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in shares of AbbVie during the second quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the 4th quarter worth $26,000. IFS Advisors LLC acquired a new position in AbbVie in the 1st quarter valued at $36,000. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter valued at $37,000. Finally, Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $33,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie 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 owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Up 0.3 %

NYSE ABBV traded up $0.54 during trading hours on Friday, reaching $193.40. The company’s stock had a trading volume of 4,312,632 shares, compared to its average volume of 5,427,167. The firm has a fifty day simple moving average of $183.88 and a 200-day simple moving average of $174.60. 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 Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The stock has a market cap of $341.52 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.91 earnings per share. Equities analysts forecast that AbbVie Inc. will post 10.86 earnings per share 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 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley lifted their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, 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.