Fortis Capital Advisors LLC Purchases 475 Shares of AbbVie Inc. $ABBV

Fortis Capital Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 10.0% in the 2nd quarter, Holdings Channel reports. The firm owned 5,214 shares of the company’s stock after buying an additional 475 shares during the period. Fortis Capital Advisors LLC’s holdings in AbbVie were worth $968,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABBV. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC boosted its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC acquired a new position in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie in the first quarter valued at approximately $42,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBV. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Evercore ISI increased their target price on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. UBS Group set a $251.00 target price on shares of AbbVie in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a report on Saturday, September 27th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $228.22.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 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 can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $234.07 on Friday. The stock has a market cap of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.38 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. The company has a fifty day moving average price of $210.77 and a two-hundred day moving average price of $196.01. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 EPS. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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

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.