Pure Financial Advisors LLC Raises Position in AbbVie Inc. $ABBV

Pure Financial Advisors LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 27.0% during the 2nd quarter, Holdings Channel reports. The fund owned 9,564 shares of the company’s stock after buying an additional 2,035 shares during the quarter. Pure Financial Advisors LLC’s holdings in AbbVie were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC lifted its stake in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter valued at about $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, HSBC set a $225.00 target price on shares of AbbVie in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $223.52.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $236.98 on Friday. The company has a market cap of $418.63 billion, a PE ratio of 112.85, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a 50-day simple moving average of $209.90 and a 200-day simple moving average of $195.87.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

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.