Etesian Wealth Advisors Inc. Cuts Stock Position in AbbVie Inc. $ABBV

Etesian Wealth Advisors Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,822 shares of the company’s stock after selling 237 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in AbbVie were worth $1,823,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Dohj LLC grew its holdings in AbbVie by 41.8% in the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the last quarter. First Hawaiian Bank grew its holdings in AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares during the last quarter. Narus Financial Partners LLC grew its holdings in AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after purchasing an additional 401 shares during the last quarter. BankPlus Trust Department grew its holdings in AbbVie by 3.3% in the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after purchasing an additional 855 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after purchasing an additional 2,792 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1%

NYSE ABBV opened at $231.03 on Friday. The company has a market capitalization of $408.13 billion, a price-to-earnings ratio of 110.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company’s fifty day moving average price is $214.12 and its two-hundred day moving average price is $196.58. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 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 analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business 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 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 2.8%. AbbVie’s payout ratio is currently 312.38%.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred 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 owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. UBS Group set a $251.00 price target on AbbVie in a research note on Friday, October 3rd. Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. HSBC set a $225.00 price objective on AbbVie in a report on Thursday, October 2nd. Finally, Wells Fargo & Company raised their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $229.38.

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.