AbbVie Inc. $ABBV Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,451 shares of the company’s stock after purchasing an additional 396 shares during the period. Focus Financial Network Inc.’s holdings in AbbVie were worth $3,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its position in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. CSS LLC IL raised its position in AbbVie by 4.4% in the 4th quarter. CSS LLC IL now owns 3,340 shares of the company’s stock valued at $594,000 after purchasing an additional 140 shares during the last quarter. DCM Advisors LLC raised its position in AbbVie by 3.9% in the 4th quarter. DCM Advisors LLC now owns 28,873 shares of the company’s stock valued at $5,131,000 after purchasing an additional 1,078 shares during the last quarter. Finally, 49 Wealth Management LLC raised its position in AbbVie by 6.0% during the 4th quarter. 49 Wealth Management LLC now owns 5,303 shares of the company’s stock worth $942,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. 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 price objective for the company. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.68.

Insider Buying and Selling

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 transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president 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. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5%

NYSE ABBV opened at $221.93 on Friday. AbbVie Inc. has a one year low of $163.81 and a one year high of $222.07. The company’s 50 day moving average price is $202.52 and its 200 day moving average price is $194.91. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm has a market capitalization of $392.05 billion, a price-to-earnings ratio of 105.68, a PEG ratio of 1.32 and a beta of 0.53.

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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict 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. Stockholders of record on Wednesday, October 15th will be paid 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 dividend yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

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.