Liberty Wealth Management LLC Buys 78 Shares of AbbVie Inc. $ABBV

Liberty Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,290 shares of the company’s stock after acquiring an additional 78 shares during the period. Liberty Wealth Management LLC’s holdings in AbbVie were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the second quarter valued at about $25,000. TD Capital Management LLC grew its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie in the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $35,000. Finally, Bear Mountain Capital Inc. raised its holdings in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABBV shares. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. HSBC set a $225.00 target price on shares of AbbVie in a report on Thursday, October 2nd. Evercore ISI increased their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Friday. Finally, Wall Street Zen upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $228.06 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a market capitalization of $402.87 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 1.44 and a beta of 0.51. The firm’s 50-day moving average is $220.69 and its 200 day moving average is $199.24.

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). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 EPS. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. AbbVie’s payout ratio is presently 312.38%.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction 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 sale, the executive vice president 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 disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.