apricus wealth LLC Purchases 589 Shares of AbbVie Inc. $ABBV

apricus wealth LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,569 shares of the company’s stock after buying an additional 589 shares during the period. AbbVie comprises about 2.2% of apricus wealth LLC’s holdings, making the stock its 10th largest position. apricus wealth LLC’s holdings in AbbVie were worth $3,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Nuveen LLC purchased a new position in AbbVie during the first quarter worth about $1,819,154,000. Assenagon Asset Management S.A. grew its stake in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after acquiring an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of AbbVie in the second quarter valued at $581,817,000. Finally, Bessemer Group Inc. lifted its holdings in shares of AbbVie by 147.6% in the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock worth $576,800,000 after buying an additional 1,641,091 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were 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 $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. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.1%

Shares of AbbVie stock opened at $232.07 on Tuesday. 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 company’s fifty day simple moving average is $218.58 and its 200-day simple moving average is $197.84. The stock has a market capitalization of $409.97 billion, a PE ratio of 110.51, a P/E/G ratio of 1.43 and a beta of 0.51. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81.

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

AbbVie Announces Dividend

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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Raymond James Financial reissued an “outperform” rating and issued a $250.00 target price (up from $236.00) on shares of AbbVie in a research note on Friday. Piper Sandler upped their price objective on shares of AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

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.