Ashton Thomas Private Wealth LLC Boosts Stock Position in AbbVie Inc. $ABBV

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in AbbVie Inc. by 3.9%, holding a total of 39,401 shares worth approximately $8.26 million.
• Following their recent quarterly report, analysts have a consensus rating of "Moderate Buy" for AbbVie stock, with price targets ranging from $204 to $255.
• AbbVie announced a quarterly dividend of $1.64 per share, representing an annualized dividend yield of 3.1%, with an ex-dividend date of October 15th.

Ashton Thomas Private Wealth LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,401 shares of the company's stock after purchasing an additional 1,479 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in AbbVie were worth $8,255,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABBV. Narus Financial Partners LLC raised its holdings in shares of AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after purchasing an additional 401 shares during the last quarter. Highland Capital Management LLC grew its position in shares of AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after purchasing an additional 2,792 shares during the last quarter. Weaver Capital Management LLC boosted its holdings in AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after purchasing an additional 310 shares during the period. North Star Asset Management Inc. boosted its holdings in AbbVie by 0.5% in the 1st quarter. North Star Asset Management Inc. now owns 161,320 shares of the company's stock valued at $33,800,000 after purchasing an additional 756 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in shares of AbbVie in the 1st quarter valued at approximately $3,879,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Up 0.3%

Shares of ABBV traded up $0.67 during trading hours on Tuesday, hitting $210.46. The company had a trading volume of 3,094,241 shares, compared to its average volume of 4,146,821. The firm has a fifty day moving average price of $198.64 and a 200-day moving average price of $194.25. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market capitalization of $371.79 billion, a price-to-earnings ratio of 100.22, a P/E/G ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for 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 company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley increased their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, Daiwa Capital Markets raised shares of 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. Four equities 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. According to data from MarketBeat, the stock currently has an average 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.