Ranch Capital Advisors Inc. Grows Stake in AbbVie Inc. $ABBV

Ranch Capital Advisors Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,140 shares of the company’s stock after acquiring an additional 168 shares during the period. Ranch Capital Advisors Inc.’s holdings in AbbVie were worth $1,882,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABBV. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 23.8% during the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after purchasing an additional 9,395 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of AbbVie by 2.0% during the first quarter. Pure Financial Advisors LLC now owns 7,529 shares of the company’s stock valued at $1,577,000 after purchasing an additional 149 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of AbbVie by 10.0% during the first quarter. Sequoia Financial Advisors LLC now owns 76,573 shares of the company’s stock valued at $16,043,000 after purchasing an additional 6,978 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.1%

NYSE ABBV opened at $228.06 on Friday. The stock’s 50-day moving average price is $220.69 and its 200-day moving average price is $198.94. 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 52 week low of $163.81 and a 52 week high of $244.81. The company has a market capitalization of $402.87 billion, a P/E ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51.

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

AbbVie Announces Dividend

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 paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. UBS Group set a $251.00 target price on AbbVie in a report on Friday, October 3rd. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.80.

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.