Ewa LLC Grows Stock Holdings in AbbVie Inc. $ABBV

Ewa LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 13.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,565 shares of the company’s stock after buying an additional 303 shares during the period. Ewa LLC’s holdings in AbbVie were worth $476,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA purchased a new stake in AbbVie in the 2nd quarter valued at about $25,000. TD Capital Management LLC boosted its position in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.45.

AbbVie Trading Up 5.7%

NYSE ABBV opened at $244.77 on Thursday. 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 firm has a market cap of $432.40 billion, a PE ratio of 116.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company has a 50 day moving average price of $208.97 and a 200 day moving average price of $195.71. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 2.7%. AbbVie’s payout ratio is 312.38%.

Insiders Place Their Bets

In other news, 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 of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by 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.