Ashton Thomas Private Wealth LLC Buys 1,543 Shares of AbbVie Inc. $ABBV

Ashton Thomas Private Wealth LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,944 shares of the company’s stock after purchasing an additional 1,543 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in AbbVie were worth $7,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in shares of AbbVie in the first quarter valued at about $1,819,154,000. Assenagon Asset Management S.A. boosted its position in shares of AbbVie by 550.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after acquiring an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of AbbVie in the second quarter valued at about $581,817,000. Finally, Invesco Ltd. boosted its position in shares of AbbVie by 17.5% in the first quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock valued at $1,753,064,000 after acquiring an additional 1,246,863 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.1%

ABBV stock opened at $228.06 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $402.87 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The business has a 50-day simple moving average of $220.69 and a 200 day simple moving average of $199.24.

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 business 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 firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.9%. AbbVie’s payout ratio is presently 312.38%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Guggenheim boosted their target price on shares of AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wells Fargo & Company boosted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Finally, Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.80.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.