4,050 Shares in AbbVie Inc. $ABBV Acquired by Strathmore Capital Advisors Inc.

Strathmore Capital Advisors Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,050 shares of the company's stock, valued at approximately $772,000.

Other institutional investors have also recently bought and sold shares of the company. TD Capital Management LLC grew its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter worth $30,000. Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the 1st quarter worth $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter worth $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ABBV shares. Guggenheim lifted their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Piper Sandler initiated coverage on shares of AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $222.68.

AbbVie Stock Up 1.8%

AbbVie stock opened at $220.16 on Thursday. The stock has a market cap of $388.93 billion, a P/E ratio of 104.84, a P/E/G ratio of 1.39 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $221.76. The company's 50-day moving average price is $201.98 and its two-hundred day moving average price is $194.84.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.

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