AbbVie Inc. $ABBV Shares Acquired by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 85,492 shares of the company’s stock after purchasing an additional 910 shares during the period. AbbVie makes up approximately 2.6% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 10th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in AbbVie were worth $15,869,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. Siemens Fonds Invest GmbH boosted its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of AbbVie by 11.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 41,550 shares of the company’s stock worth $8,038,000 after buying an additional 4,343 shares during the last quarter. Finally, Strategic Global Advisors LLC boosted its stake in shares of AbbVie by 18.8% in the 4th quarter. Strategic Global Advisors LLC now owns 24,372 shares of the company’s stock worth $4,331,000 after buying an additional 3,864 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABBV shares. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. BMO Capital Markets upped their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company upped their price objective on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.10.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.8%

Shares of ABBV stock opened at $218.40 on Monday. The company’s fifty day simple moving average is $200.25 and its two-hundred day simple moving average is $194.45. 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 1 year low of $163.81 and a 1 year high of $221.76. The stock has a market capitalization of $385.82 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.40 and a beta of 0.53.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the firm earned $2.65 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s payout ratio is presently 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.