AbbVie Inc. $ABBV Shares Purchased by AM Investment Strategies LLC

AM Investment Strategies LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,197 shares of the company’s stock after purchasing an additional 148 shares during the period. AM Investment Strategies LLC’s holdings in AbbVie were worth $779,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Eaton Financial Holdings Company LLC purchased a new position in AbbVie during the 2nd quarter worth $1,258,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in AbbVie by 41.5% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 32,409 shares of the company’s stock worth $6,016,000 after buying an additional 9,511 shares during the last quarter. Focused Wealth Management Inc raised its position in AbbVie by 3.5% during the 2nd quarter. Focused Wealth Management Inc now owns 7,926 shares of the company’s stock worth $1,471,000 after buying an additional 270 shares during the last quarter. CGN Advisors LLC raised its position in AbbVie by 5.5% during the 2nd quarter. CGN Advisors LLC now owns 2,157 shares of the company’s stock worth $400,000 after buying an additional 112 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. raised its position in AbbVie by 13.0% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 1,872 shares of the company’s stock worth $347,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABBV shares. Evercore ISI upped their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup raised 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. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. BMO Capital Markets raised their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, JPMorgan Chase & Co. raised 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, September 16th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.45.

AbbVie Stock Performance

NYSE:ABBV opened at $222.88 on Wednesday. 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 has a 50-day moving average price of $204.47 and a two-hundred day moving average price of $195.04. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $225.16. The company has a market capitalization of $393.74 billion, a P/E ratio of 106.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

AbbVie Company 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.