BankPlus Wealth Management LLC Has $780,000 Holdings in AbbVie Inc. $ABBV

BankPlus Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,203 shares of the company’s stock after buying an additional 92 shares during the quarter. BankPlus Wealth Management LLC’s holdings in AbbVie were worth $780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FF Advisors LLC grew its stake in shares of AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after acquiring an additional 53 shares during the last quarter. Private Management Group Inc. grew its stake in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares during the last quarter. Silicon Valley Capital Partners grew its stake in shares of AbbVie by 10.8% in the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares during the last quarter. Seneca House Advisors grew its stake in shares of AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares during the last quarter. Finally, Castle Wealth Management LLC grew its stake in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after acquiring an additional 57 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABBV. Cantor Fitzgerald raised their price objective on shares of AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. 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 note on Thursday, August 7th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.45.

AbbVie Stock Performance

AbbVie stock opened at $218.23 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16. The company has a market cap of $385.52 billion, a PE ratio of 103.92, a PEG ratio of 1.31 and a beta of 0.53. The company’s 50-day moving average is $205.61 and its two-hundred day moving average is $195.22.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.65 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared 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. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction 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 $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 owned by company 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.