Wealthcare Capital Partners LLC Has $252,000 Position in AbbVie Inc. $ABBV

Wealthcare Capital Partners LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,359 shares of the company’s stock after purchasing an additional 104 shares during the period. Wealthcare Capital Partners LLC’s holdings in AbbVie were worth $252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new position in AbbVie in the 2nd quarter worth about $25,000. TD Capital Management LLC increased 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 buying 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. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Saturday, September 27th. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and raised their target price for the stock from $170.00 to $270.00 in a research note on Wednesday, September 17th. Citigroup raised their target price on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, UBS Group set a $251.00 target price on AbbVie in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

Insider Buying and Selling

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

AbbVie Stock Down 1.1%

Shares of NYSE:ABBV opened at $234.07 on Friday. The business’s 50 day simple moving average is $210.77 and its two-hundred day simple moving average is $195.90. The firm has a market cap of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. 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 52-week low of $163.81 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last posted its 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 company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the business earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) 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.