Alta Wealth Advisors LLC Acquires 141 Shares of AbbVie Inc. $ABBV

Alta Wealth Advisors LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,057 shares of the company’s stock after purchasing an additional 141 shares during the quarter. Alta Wealth Advisors LLC’s holdings in AbbVie were worth $1,496,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. TD Capital Management LLC raised its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in AbbVie in the second quarter worth approximately $25,000. Abound Financial LLC bought a new position in AbbVie in the first quarter worth approximately $30,000. Cypress Capital Management LLC WY bought a new position in AbbVie in the first quarter worth approximately $35,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the first quarter worth approximately $42,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Morgan Stanley increased their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Saturday, September 27th. UBS Group set a $251.00 price objective on AbbVie in a report on Friday. Finally, BMO Capital Markets increased their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

AbbVie Price Performance

NYSE ABBV opened at $234.07 on Friday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s fifty day moving average price is $210.77 and its 200 day moving average price is $195.90. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (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 firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the company earned $2.65 earnings per share. AbbVie’s 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 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 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. 0.25% of the stock is currently 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.