Signal Advisors Wealth LLC Has $890,000 Stock Position in AbbVie Inc. $ABBV

Key Points

• Signal Advisors Wealth LLC increased its stake in AbbVie Inc. by 176.7%, owning 4,795 shares valued at approximately $890,000 after acquiring an additional 3,062 shares in the second quarter.
• AbbVie reported $2.97 earnings per share for the last quarter, missing expectations, but achieved $15.42 billion in revenue, surpassing analyst estimates of $14.93 billion.
• The company declared a quarterly dividend of $1.64 per share, with a payout ratio of 312.38%, highlighting significant returns for shareholders despite financial pressures.

Signal Advisors Wealth LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 176.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,795 shares of the company's stock after acquiring an additional 3,062 shares during the period. Signal Advisors Wealth LLC's holdings in AbbVie were worth $890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Brighton Jones LLC boosted its position in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. CSS LLC IL raised its stake in AbbVie by 4.4% during the fourth quarter. CSS LLC IL now owns 3,340 shares of the company's stock valued at $594,000 after buying an additional 140 shares in the last quarter. DCM Advisors LLC raised its stake in AbbVie by 3.9% during the fourth quarter. DCM Advisors LLC now owns 28,873 shares of the company's stock valued at $5,131,000 after buying an additional 1,078 shares in the last quarter. Finally, 49 Wealth Management LLC raised its stake in AbbVie by 6.0% during the fourth quarter. 49 Wealth Management LLC now owns 5,303 shares of the company's stock valued at $942,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. BMO Capital Markets increased their price target on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Berenberg Bank upgraded AbbVie from a "hold" rating to a "buy" rating and raised their target price for the company from $170.00 to $270.00 in a research report on Wednesday. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Four investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.68.

AbbVie Stock Up 0.1%

Shares of ABBV traded up $0.30 during mid-day trading on Friday, reaching $222.29. The company's stock had a trading volume of 14,371,957 shares, compared to its average volume of 4,244,925. The business has a fifty day moving average of $203.12 and a 200 day moving average of $194.89. The company has a market cap of $392.69 billion, a price-to-earnings ratio of 105.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $223.49. 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 (NYSE:ABBV - Get Free Report) last released its 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 business had revenue of $15.42 billion during 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%. AbbVie's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.65 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business 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 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is 312.38%.

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.