Tectonic Advisors LLC Acquires 5,662 Shares of AbbVie Inc. $ABBV

Key Points

• Tectonic Advisors LLC increased its holdings in AbbVie Inc. by 12.8%, acquiring an additional 5,662 shares during the second quarter, bringing their total to 50,066 shares worth approximately $9.3 million.
• Analysts have varying ratings on AbbVie, with four giving it a "Strong Buy" and the consensus rating classified as "Moderate Buy" with an average target price set at $229.14.
• AbbVie recently announced a quarterly dividend of $1.64 per share to be paid on November 14th, resulting in an annualized dividend yield of 2.8%.

Tectonic Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,066 shares of the company's stock after acquiring an additional 5,662 shares during the period. Tectonic Advisors LLC's holdings in AbbVie were worth $9,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the second quarter valued at about $25,000. TD Capital Management LLC boosted its stake in shares of 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 purchasing an additional 58 shares in the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie during the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. boosted its stake in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company's stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABBV shares. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. HSBC set a $225.00 price target on AbbVie in a research note on Thursday, October 2nd. Bank of America lifted their price objective on AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Finally, Hsbc Global Res lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.14.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction that occurred 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 owned 58,247 shares of the company's stock, 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. Insiders own 0.25% of the company's stock.

AbbVie Trading Down 0.7%

Shares of ABBV stock opened at $231.26 on Thursday. The company has a market cap of $408.53 billion, a P/E ratio of 110.12, a PEG ratio of 1.36 and a beta of 0.51. The stock has a 50 day simple moving average of $213.28 and a two-hundred day simple moving average of $196.43. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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 business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is presently 312.38%.

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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