One Degree Advisors Inc Buys New Position in AbbVie Inc. $ABBV

Key Points

• One Degree Advisors Inc has acquired a new stake in AbbVie Inc. by purchasing 1,148 shares valued at approximately $213,000.
• Analysts have upgraded AbbVie’s stock ratings, with several reports raising price targets, including Piper Sandler increasing it from $231.00 to $284.00.
• AbbVie announced a quarterly dividend of $1.64 per share, reflecting an annualized yield of 2.8%, payable on November 14th.

One Degree Advisors Inc purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,148 shares of the company's stock, valued at approximately $213,000.

Several other large investors have also recently added to or reduced their stakes in the company. FF Advisors LLC raised its holdings in AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company's stock valued at $286,000 after acquiring an additional 53 shares in the last quarter. Private Management Group Inc. raised its holdings in AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after acquiring an additional 54 shares in the last quarter. LifeSteps Financial Inc. raised its holdings in AbbVie by 0.7% in the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company's stock valued at $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners raised its holdings in AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company's stock valued at $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors raised its holdings in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company's stock valued at $388,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Piper Sandler increased their target price on AbbVie from $231.00 to $284.00 and gave the stock an "overweight" rating in a report on Friday. Berenberg Bank raised AbbVie from a "hold" rating to a "buy" rating and increased their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Wells Fargo & Company increased their target price on AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.90.

AbbVie Trading Up 0.1%

ABBV stock opened at $230.88 on Friday. The business has a fifty day moving average price of $214.84 and a 200 day moving average price of $196.79. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock has a market capitalization of $407.86 billion, a price-to-earnings ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the business earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 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%.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's 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 completion of the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

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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