AbbVie Inc. $ABBV Shares Acquired by Vista Investment Partners LLC

Vista Investment Partners LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,051 shares of the company’s stock after acquiring an additional 109 shares during the quarter. AbbVie comprises 1.6% of Vista Investment Partners LLC’s holdings, making the stock its 18th largest position. Vista Investment Partners LLC’s holdings in AbbVie were worth $5,393,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABBV. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie in the first quarter valued at $35,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related 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 transaction 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. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.8%

Shares of ABBV stock opened at $220.16 on Thursday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $221.76. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $388.93 billion, a PE ratio of 104.84, a price-to-earnings-growth ratio of 1.39 and a beta of 0.53. The business’s 50 day moving average is $201.98 and its two-hundred day moving average is $194.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.65 EPS. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABBV. Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Wells Fargo & Company raised their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Citigroup upped their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.68.

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.