Lockerman Financial Group Inc. Has $275,000 Stock Position in AbbVie Inc. $ABBV

Lockerman Financial Group Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 1,480 shares of the company’s stock after selling 64 shares during the period. Lockerman Financial Group Inc.’s holdings in AbbVie were worth $275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Marquette Asset Management LLC grew its stake in AbbVie by 122.0% during the 1st quarter. Marquette Asset Management LLC now owns 444 shares of the company’s stock valued at $93,000 after acquiring an additional 244 shares in the last quarter. Merit Financial Group LLC grew its stake in AbbVie by 19.9% during the 1st quarter. Merit Financial Group LLC now owns 59,033 shares of the company’s stock valued at $12,369,000 after acquiring an additional 9,807 shares in the last quarter. Finally, Capital Asset Advisory Services LLC grew its stake in AbbVie by 7.5% during the 1st quarter. Capital Asset Advisory Services LLC now owns 19,828 shares of the company’s stock valued at $4,068,000 after acquiring an additional 1,380 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABBV. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. BMO Capital Markets lifted their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Daiwa Capital Markets upgraded 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. Guggenheim lifted their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $223.45.

AbbVie Stock Up 3.7%

Shares of ABBV stock opened at $231.47 on Wednesday. The stock’s 50 day simple moving average is $207.89 and its 200 day simple moving average is $195.37. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $232.35. The company has a market capitalization of $408.91 billion, a price-to-earnings ratio of 110.22, a PEG ratio of 1.31 and a beta of 0.53.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share 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 company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

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.