Naples Global Advisors LLC Has $8.77 Million Stock Holdings in AbbVie Inc. $ABBV

Naples Global Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,269 shares of the company’s stock after selling 369 shares during the quarter. AbbVie accounts for about 0.8% of Naples Global Advisors LLC’s holdings, making the stock its 27th biggest position. Naples Global Advisors LLC’s holdings in AbbVie were worth $8,774,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pure Financial Advisors LLC raised its position in AbbVie by 27.0% in the second quarter. Pure Financial Advisors LLC now owns 9,564 shares of the company’s stock worth $1,775,000 after acquiring an additional 2,035 shares during the period. RKL Wealth Management LLC lifted its position in AbbVie by 1.6% during the second quarter. RKL Wealth Management LLC now owns 16,243 shares of the company’s stock valued at $3,015,000 after purchasing an additional 252 shares during the last quarter. Clarity Financial LLC lifted its holdings in shares of AbbVie by 11.4% in the 2nd quarter. Clarity Financial LLC now owns 202,483 shares of the company’s stock worth $37,585,000 after acquiring an additional 20,704 shares during the last quarter. Woodward Diversified Capital LLC raised its stake in shares of AbbVie by 33.4% during the second quarter. Woodward Diversified Capital LLC now owns 9,011 shares of the company’s stock valued at $1,673,000 after acquiring an additional 2,254 shares during the last quarter. Finally, Community Financial Services Group LLC increased its stake in shares of AbbVie by 216.4% in the 2nd quarter. Community Financial Services Group LLC now owns 31,384 shares of the company’s stock worth $5,826,000 after acquiring an additional 21,464 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $244.77 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The firm has a market capitalization of $432.40 billion, a PE ratio of 116.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The stock’s 50-day simple moving average is $208.97 and its 200-day simple moving average is $195.71.

AbbVie (NYSE:ABBV) last released 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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the firm earned $2.65 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABBV shares. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Guggenheim upped their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Finally, Piper Sandler started coverage on AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $223.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred 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 in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.