Priebe Wealth Holdings LLC Has $543,000 Holdings in AbbVie Inc. $ABBV

Priebe Wealth Holdings LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,923 shares of the company’s stock after selling 363 shares during the quarter. Priebe Wealth Holdings LLC’s holdings in AbbVie were worth $543,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TD Capital Management LLC lifted its holdings in shares of AbbVie by 82.9% during 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 during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the second quarter valued at approximately $25,000. Abound Financial LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $230.88 on Monday. The business’s fifty day moving average price is $214.84 and its two-hundred day moving average price is $196.71. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock has a market capitalization of $407.86 billion, a price-to-earnings ratio of 109.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.65 earnings per share. As a group, analysts predict 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. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen cut AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets boosted their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, Bank of America boosted their price objective on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.90.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value 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. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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.