AbbVie Inc. (NYSE:ABBV) Shares Acquired by Ethos Financial Group LLC

Ethos Financial Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 311.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,306 shares of the company’s stock after acquiring an additional 8,555 shares during the quarter. Ethos Financial Group LLC’s holdings in AbbVie were worth $2,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Vanguard Group Inc. grew its position in AbbVie by 0.5% during the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after buying an additional 845,787 shares during the period. Capital Research Global Investors grew its position in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares during the period. Northern Trust Corp grew its position in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after buying an additional 2,299,645 shares during the period. Capital World Investors grew its position in shares of AbbVie by 6.2% in the fourth quarter. Capital World Investors now owns 16,410,277 shares of the company’s stock valued at $2,915,990,000 after purchasing an additional 959,242 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Raymond James Financial increased their price target on shares of AbbVie from $227.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Piper Sandler initiated coverage on shares of AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price target on the stock. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Guggenheim increased their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.95.

AbbVie Trading Up 1.0%

Shares of NYSE:ABBV opened at $206.65 on Friday. The company has a market cap of $365.06 billion, a PE ratio of 98.41, a P/E/G ratio of 1.33 and a beta of 0.50. The company’s 50-day moving average price is $191.08 and its 200 day moving average price is $192.20. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. 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) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, July 15th. AbbVie’s payout ratio is 312.38%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.