Wealthcare Advisory Partners LLC Increases Holdings in AbbVie Inc. $ABBV

Key Points

• Wealthcare Advisory Partners LLC increased its holdings in AbbVie Inc. by 4.8%, acquiring an additional 2,103 shares, bringing its total to 46,005 shares worth approximately $8.54 million.
• AbbVie plans to pay a quarterly dividend of $1.64 on November 14th for stockholders of record as of October 15th, reflecting an annualized dividend yield of 2.8%.
• Wall Street analysts have mixed ratings for AbbVie, with price targets ranging from $205.00 to $235.00, and an average rating of "Moderate Buy."

Wealthcare Advisory Partners LLC boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,005 shares of the company's stock after buying an additional 2,103 shares during the period. Wealthcare Advisory Partners LLC's holdings in AbbVie were worth $8,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ABBV. Brighton Jones LLC lifted its position in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in shares of AbbVie by 5.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 1,733 shares of the company's stock valued at $363,000 after buying an additional 91 shares during the last quarter. Pitti Group Wealth Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at about $213,000. Finally, Pines Wealth Management LLC boosted its stake in shares of AbbVie by 2.1% in the first quarter. Pines Wealth Management LLC now owns 5,780 shares of the company's stock worth $1,211,000 after buying an additional 117 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company'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 of the company's stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was 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.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Hsbc Global Res lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Evercore ISI raised their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $228.22.

AbbVie Stock Down 1.1%

Shares of NYSE ABBV opened at $234.07 on Friday. The firm has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The company's 50-day simple moving average is $210.77 and its 200-day simple moving average is $195.90. 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 Inc. has a 52-week low of $163.81 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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 company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts predict 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. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend 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%.

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.

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