Ethos Financial Group LLC Has $2.28 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Ethos Financial Group LLC increased its holdings in AbbVie Inc. by 311% during the first quarter, owning 11,306 shares valued at approximately $2.28 million.
• AbbVie recently declared a quarterly dividend of $1.64 per share, resulting in an annualized dividend of $6.56 and a yield of 3.2%.
• Analysts have generally given AbbVie a Moderate Buy rating, with a consensus target price of $214.95, reflecting positive sentiment towards the company's growth and performance.

Ethos Financial Group LLC grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 311.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,306 shares of the company's stock after acquiring an additional 8,555 shares during the quarter. Ethos Financial Group LLC's holdings in AbbVie were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABBV. Abound Financial LLC bought a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in AbbVie in the first quarter worth $35,000. Pinney & Scofield Inc. bought a new position in AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the first quarter worth $42,000. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction dated 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $2.7930 during midday trading on Wednesday, reaching $208.9830. The company's stock had a trading volume of 3,298,975 shares, compared to its average volume of 6,666,132. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a market capitalization of $369.18 billion, a P/E ratio of 99.64, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business's fifty day simple moving average is $191.75 and its 200-day simple moving average is $192.56.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. The business's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.1%. AbbVie's dividend payout ratio (DPR) is 312.38%.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. Daiwa Capital Markets raised 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. Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup raised their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Piper Sandler started coverage on AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 target price for the company. Finally, Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

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.