Woodward Diversified Capital LLC Purchases 2,254 Shares of AbbVie Inc. $ABBV

Woodward Diversified Capital LLC raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 33.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,011 shares of the company's stock after buying an additional 2,254 shares during the period. AbbVie comprises about 0.8% of Woodward Diversified Capital LLC's holdings, making the stock its 27th largest position. Woodward Diversified Capital LLC's holdings in AbbVie were worth $1,673,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA purchased a new position in AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% in 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 during the period. Abound Financial LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie in the 1st quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the first quarter worth $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 5.7%

Shares of ABBV opened at $244.77 on Thursday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm's 50-day moving average price is $208.97 and its 200-day moving average price is $195.71. The firm has a market capitalization of $432.40 billion, a price-to-earnings ratio of 116.56, a PEG ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.65 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.7%. AbbVie's dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Berenberg Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating and boosted their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, Piper Sandler assumed coverage on AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $223.45.

Insiders Place Their Bets

In other 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 value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

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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