Forvis Mazars Wealth Advisors LLC Has $4.59 Million Position in AbbVie Inc. $ABBV

Forvis Mazars Wealth Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,717 shares of the company’s stock after purchasing an additional 292 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in AbbVie were worth $4,588,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Conning Inc. boosted its stake in AbbVie by 7.1% in the second quarter. Conning Inc. now owns 191,023 shares of the company’s stock worth $35,458,000 after purchasing an additional 12,690 shares in the last quarter. Dohj LLC lifted its stake in shares of AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after acquiring an additional 1,335 shares during the period. First Hawaiian Bank lifted its stake in shares of AbbVie by 0.8% during the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after acquiring an additional 60 shares during the period. Narus Financial Partners LLC lifted its stake in shares of AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after acquiring an additional 401 shares during the period. Finally, BankPlus Trust Department lifted its stake in shares of AbbVie by 3.3% during the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after acquiring an additional 855 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a research note on Monday, October 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research note on Friday. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. HSBC set a $225.00 price target on AbbVie in a research note on Thursday, October 2nd. Finally, Erste Group Bank lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.05.

AbbVie Price Performance

Shares of ABBV opened at $229.66 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The stock has a market cap of $405.71 billion, a P/E ratio of 109.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock’s 50-day moving average price is $217.91 and its two-hundred day moving average price is $197.55.

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 return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the business posted $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given 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 2.9%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade 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 through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s 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 sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.