BCS Wealth Management Acquires 470 Shares of AbbVie Inc. $ABBV

BCS Wealth Management boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,369 shares of the company’s stock after acquiring an additional 470 shares during the period. BCS Wealth Management’s holdings in AbbVie were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Menard Financial Group LLC boosted its stake in AbbVie by 8.3% in the 4th quarter. Menard Financial Group LLC now owns 6,786 shares of the company’s stock valued at $1,206,000 after purchasing an additional 518 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in AbbVie in the 4th quarter valued at $2,616,000. Finally, Park Square Financial Group LLC bought a new position in AbbVie during the 4th quarter worth $190,000. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Evercore ISI boosted their target price on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research report on Monday. Guggenheim increased their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Morgan Stanley raised their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Cantor Fitzgerald boosted their price target on AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.45.

AbbVie Stock Up 0.1%

Shares of NYSE:ABBV opened at $222.88 on Wednesday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $393.74 billion, a PE ratio of 106.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $225.16. The company has a fifty day moving average of $204.47 and a 200-day moving average of $195.04.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 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 firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Insider Buying and Selling at AbbVie

In related 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 completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This 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 dated 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.