Warburton Capital Management LLC Purchases 69 Shares of AbbVie Inc. $ABBV

Warburton Capital Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,099 shares of the company’s stock after purchasing an additional 69 shares during the period. Warburton Capital Management LLC’s holdings in AbbVie were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of AbbVie in the first quarter worth $1,819,154,000. Assenagon Asset Management S.A. boosted its holdings in shares of AbbVie by 550.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after acquiring an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of AbbVie in the second quarter worth $581,817,000. Finally, Invesco Ltd. boosted its holdings in shares of AbbVie by 17.5% in the first quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock worth $1,753,064,000 after acquiring an additional 1,246,863 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.0%

NYSE ABBV opened at $228.74 on Friday. The stock’s 50-day simple moving average is $220.26 and its two-hundred day simple moving average is $198.58. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. 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 company has a market capitalization of $404.08 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 issued a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. Evercore ISI raised their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Guggenheim increased their price objective on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $234.80.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 completion of the transaction, the executive vice president 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. 0.25% of the stock is currently owned by insiders.

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.