Centurion Wealth Management LLC Buys 123 Shares of AbbVie Inc. $ABBV

Centurion Wealth Management LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 8.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,506 shares of the company’s stock after acquiring an additional 123 shares during the quarter. Centurion Wealth Management LLC’s holdings in AbbVie were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TD Capital Management LLC grew its stake in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC bought a new stake in AbbVie during the first quarter valued at approximately $30,000. Siemens Fonds Invest GmbH grew its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter valued at approximately $35,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter valued at approximately $36,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $218.40 on Monday. The company has a market cap of $385.82 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.40 and a beta of 0.53. The firm’s fifty day moving average is $200.25 and its 200 day moving average is $194.45. 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 $221.76.

AbbVie (NYSE:ABBV) last released its quarterly 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 for 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s payout ratio is 312.38%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Piper Sandler started coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price for the company. Wells Fargo & Company boosted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.10.

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.