Brian Low Financial Group LLC Invests $927,000 in AbbVie Inc. $ABBV

Key Points

• Brian Low Financial Group LLC has invested approximately $927,000 in AbbVie Inc., purchasing 4,996 shares during the second quarter.
• In recent insider transactions, EVP Nicholas Donoghoe and EVP Azita Saleki-Gerhardt sold significant amounts of their AbbVie shares, resulting in decreases of 18.58% and 19.29% in their respective holdings.
• AbbVie recently reported quarterly earnings of $2.97 per share, which missed analysts' expectations, but their revenue increased by 6.6% compared to the same quarter last year, totaling $15.42 billion.

Brian Low Financial Group LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 4,996 shares of the company's stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Brighton Jones LLC lifted its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the period. GAMMA Investing LLC lifted its holdings in AbbVie by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company's stock worth $10,235,000 after buying an additional 9,395 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in AbbVie by 2.0% in the 1st quarter. Pure Financial Advisors LLC now owns 7,529 shares of the company's stock worth $1,577,000 after buying an additional 149 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in AbbVie by 10.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 76,573 shares of the company's stock valued at $16,043,000 after buying an additional 6,978 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

AbbVie Trading Down 0.1%

NYSE:ABBV opened at $228.06 on Friday. The company has a market cap of $402.87 billion, a PE ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51. The business's 50 day moving average is $220.69 and its two-hundred day moving average is $198.94. 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 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly 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 firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm posted $2.65 earnings per share. AbbVie's revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Hsbc Global Res lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Wells Fargo & Company raised their price objective on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Guggenheim upped their target price on AbbVie from $227.00 to $242.00 and gave the company a "buy" rating in a research report on Monday. Evercore ISI increased their target price on AbbVie from $207.00 to $222.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Bank of America lifted their price target on shares of AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.80.

About AbbVie

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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