AbbVie Inc. $ABBV Stake Boosted by Leo Wealth LLC

Leo Wealth LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,576 shares of the company's stock after purchasing an additional 2,313 shares during the quarter. Leo Wealth LLC's holdings in AbbVie were worth $4,191,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Cantor Fitzgerald upped their target price on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. UBS Group set a $251.00 target price on AbbVie in a research report on Friday, October 3rd. Hsbc Global Res downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Finally, Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $229.14.

Insiders Place Their Bets

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

AbbVie Price Performance

Shares of NYSE:ABBV opened at $231.26 on Thursday. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The stock has a fifty day moving average of $213.28 and a 200-day moving average of $196.43. The company has a market capitalization of $408.53 billion, a PE ratio of 110.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the company posted $2.65 EPS. AbbVie's revenue was up 6.6% on a year-over-year basis. As a group, equities 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

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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