Frazier Financial Advisors LLC Lowers Holdings in AbbVie Inc. $ABBV

Frazier Financial Advisors LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,908 shares of the company’s stock after selling 77 shares during the period. AbbVie accounts for about 2.3% of Frazier Financial Advisors LLC’s portfolio, making the stock its 12th largest position. Frazier Financial Advisors LLC’s holdings in AbbVie were worth $3,324,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ABBV. Brighton Jones LLC lifted its position in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AbbVie by 23.8% in the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock worth $10,235,000 after purchasing an additional 9,395 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AbbVie by 5.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 536,450 shares of the company’s stock worth $112,398,000 after purchasing an additional 25,385 shares during the last quarter. Finally, Good Life Advisors LLC increased its holdings in shares of AbbVie by 4.5% in the first quarter. Good Life Advisors LLC now owns 54,416 shares of the company’s stock worth $11,401,000 after purchasing an additional 2,319 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, 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 owned 177,292 shares of the company’s stock, valued at $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 available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

AbbVie Trading Down 0.1%

ABBV opened at $230.36 on Tuesday. The stock has a market cap of $406.94 billion, a price-to-earnings ratio of 109.70, a P/E/G ratio of 1.42 and a beta of 0.51. The stock’s 50 day moving average price is $215.50 and its 200-day moving average price is $196.89. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. 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 (NYSE:ABBV) last announced its quarterly earnings data 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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period last year, the company earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is 312.38%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABBV. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a report on Monday. Wall Street Zen cut AbbVie from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. lifted their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. 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. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $231.90.

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.