1,565 Shares in AbbVie Inc. $ABBV Acquired by Family Legacy Financial Solutions LLC

Key Points

• Family Legacy Financial Solutions LLC has invested approximately $291,000 to acquire 1,565 shares of AbbVie Inc. during the 2nd quarter.
• AbbVie recently reported quarterly earnings of $2.97 per share, falling short of expectations, though its revenues rose by 6.6% year-over-year to $15.42 billion.
• The company declared a quarterly dividend of $1.64 per share, set to be paid to investors on November 14th, yielding an annualized dividend of 3.0%.

Family Legacy Financial Solutions LLC acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,565 shares of the company's stock, valued at approximately $291,000.

Several other institutional investors also recently modified their holdings of the business. TD Capital Management LLC boosted its position in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter valued at $30,000. Siemens Fonds Invest GmbH boosted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter valued at $35,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter valued at $36,000. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ABBV. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. BMO Capital Markets upped their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Berenberg Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating and upped their target price for the stock from $170.00 to $270.00 in a report on Wednesday. Morgan Stanley upped their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Cantor Fitzgerald upped their target price on shares of AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $222.68.

AbbVie Stock Up 0.1%

NYSE ABBV traded up $0.30 during trading on Friday, reaching $222.29. 14,371,957 shares of the company's stock traded hands, compared to its average volume of 4,244,925. 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 firm has a market cap of $392.69 billion, a price-to-earnings ratio of 105.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.53. The company's 50 day simple moving average is $203.12 and its two-hundred day simple moving average is $195.01. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $223.49.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business posted $2.65 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm's 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were 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 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.