Investors Asset Management of Georgia Inc. GA ADV Has $3.46 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Investors Asset Management of Georgia Inc. increased its holdings in AbbVie Inc. by 10.4% in Q2, now owning 18,621 shares valued at $3.46 million.
• AbbVie announced a quarterly dividend of $1.64 per share, with a record date of October 15th, leading to an annual yield of 2.8%.
• The consensus rating for AbbVie among analysts is a Moderate Buy, with a target price around $228.22.

Investors Asset Management of Georgia Inc. GA ADV lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,621 shares of the company's stock after buying an additional 1,749 shares during the quarter. AbbVie comprises approximately 1.6% of Investors Asset Management of Georgia Inc. GA ADV's holdings, making the stock its 11th biggest position. Investors Asset Management of Georgia Inc. GA ADV's holdings in AbbVie were worth $3,456,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and lifted their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Hsbc Global Res cut AbbVie from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 1st. Piper Sandler started coverage on AbbVie in a research note on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price on the stock. Evercore ISI lifted their price target on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Citigroup upped their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.22.

AbbVie Trading Down 1.1%

Shares of NYSE:ABBV opened at $234.07 on Monday. The business's 50 day simple moving average is $210.77 and its 200 day simple moving average is $195.79. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. 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 company has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last released 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). The company 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 business's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Activity at AbbVie

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

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.

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