Ashton Thomas Private Wealth LLC Purchases 1,543 Shares of AbbVie Inc. $ABBV

Ashton Thomas Private Wealth LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,944 shares of the company’s stock after acquiring an additional 1,543 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in AbbVie were worth $7,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp raised its holdings in AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after buying an additional 189,294 shares during the period. Goldman Sachs Group Inc. raised its holdings in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in AbbVie by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after buying an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in AbbVie by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock worth $1,972,050,000 after buying an additional 45,871 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% 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 company insiders.

AbbVie Price Performance

NYSE ABBV opened at $228.06 on Monday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm’s 50 day moving average is $220.69 and its 200-day moving average is $199.24. The company has a market capitalization of $402.87 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 1.44 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 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 the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

Several analysts have commented on ABBV shares. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Erste Group Bank downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

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.