AbbVie Inc. $ABBV Shares Acquired by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,028 shares of the company's stock after purchasing an additional 1,664 shares during the period. AbbVie makes up approximately 1.2% of Trifecta Capital Advisors LLC's portfolio, making the stock its 29th biggest holding. Trifecta Capital Advisors LLC's holdings in AbbVie were worth $7,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock valued at $36,439,271,000 after purchasing an additional 845,787 shares during the period. Northern Trust Corp increased its holdings in shares of AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock valued at $4,612,357,000 after purchasing an additional 189,294 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock valued at $2,675,959,000 after buying an additional 713,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AbbVie by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company's stock valued at $1,972,050,000 after buying an additional 45,871 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a research note on Thursday, August 7th. Berenberg Bank upgraded AbbVie from a "hold" rating to a "buy" rating and lifted their price target for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Cantor Fitzgerald lifted their price target on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Finally, Hsbc Global Res downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.14.

Insider Buying and Selling at AbbVie

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

AbbVie Stock Down 0.7%

ABBV opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The business's fifty day moving average is $213.28 and its two-hundred day moving average is $196.43. The company has a market cap of $408.53 billion, a price-to-earnings ratio of 110.12, a PEG ratio of 1.36 and a beta of 0.51.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio is currently 312.38%.

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.

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