AbbVie Inc. $ABBV Shares Sold by Guardian Wealth Advisors LLC

Guardian Wealth Advisors LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,971 shares of the company’s stock after selling 181 shares during the quarter. AbbVie accounts for about 0.7% of Guardian Wealth Advisors LLC’s portfolio, making the stock its 19th largest holding. Guardian Wealth Advisors LLC’s holdings in AbbVie were worth $1,108,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ABBV. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the second quarter valued at $25,000. TD Capital Management LLC grew its position in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC purchased a new position in shares of AbbVie during the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. boosted its stake in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after buying an additional 173 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.1%

Shares of NYSE:ABBV opened at $228.06 on Friday. The business’s 50 day moving average price is $220.69 and its 200-day moving average price is $199.11. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The firm has a market capitalization of $402.87 billion, a price-to-earnings ratio of 108.60, a price-to-earnings-growth ratio of 1.44 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.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for 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%.The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.65 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABBV shares. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James Financial reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research note on Friday, October 17th. Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Piper Sandler boosted their target price on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

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.