Jackson Wealth Management LLC Has $8.07 Million Position in AbbVie Inc. $ABBV

Jackson Wealth Management LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,451 shares of the company’s stock after selling 227 shares during the quarter. Jackson Wealth Management LLC’s holdings in AbbVie were worth $8,065,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Franklin Street Advisors Inc. NC lifted its stake in AbbVie by 11.2% in the second quarter. Franklin Street Advisors Inc. NC now owns 173,084 shares of the company’s stock valued at $32,128,000 after acquiring an additional 17,405 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its stake in shares of AbbVie by 0.9% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 62,815 shares of the company’s stock worth $11,660,000 after buying an additional 572 shares during the last quarter. New Century Financial Group LLC lifted its stake in shares of AbbVie by 28.4% during the 2nd quarter. New Century Financial Group LLC now owns 2,388 shares of the company’s stock worth $443,000 after buying an additional 528 shares during the last quarter. Custos Family Office LLC lifted its stake in shares of AbbVie by 20.7% during the 2nd quarter. Custos Family Office LLC now owns 1,378 shares of the company’s stock worth $256,000 after buying an additional 236 shares during the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $844,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were 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 $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $234.07 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The firm has a market cap of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.38 and a beta of 0.51. The company’s 50-day moving average price is $210.77 and its two-hundred day moving average price is $196.01.

AbbVie (NYSE:ABBV) last released 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business earned $2.65 earnings per share. AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Saturday, September 27th. 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 research note on Friday, August 1st. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Finally, BMO Capital Markets raised their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $228.22.

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.