AbbVie Inc. $ABBV Shares Purchased by Appleton Partners Inc. MA

Appleton Partners Inc. MA boosted its stake in AbbVie Inc. (NYSE:ABBV) by 5.3% during the second quarter, Holdings Channel.com reports. The fund owned 39,742 shares of the company’s stock after purchasing an additional 2,010 shares during the quarter. Appleton Partners Inc. MA’s holdings in AbbVie were worth $7,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fishman Jay A Ltd. MI boosted its stake in AbbVie by 0.7% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 69,672 shares of the company’s stock worth $12,933,000 after purchasing an additional 460 shares during the last quarter. PUREfi Wealth LLC boosted its stake in AbbVie by 17.7% during the 2nd quarter. PUREfi Wealth LLC now owns 5,829 shares of the company’s stock worth $1,082,000 after purchasing an additional 878 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in AbbVie by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 85,910 shares of the company’s stock worth $15,947,000 after purchasing an additional 2,636 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in AbbVie by 2.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 191,289 shares of the company’s stock worth $35,504,000 after purchasing an additional 4,968 shares during the last quarter. Finally, Grimes & Company Inc. boosted its stake in AbbVie by 2.1% during the 2nd quarter. Grimes & Company Inc. now owns 105,278 shares of the company’s stock worth $19,542,000 after purchasing an additional 2,172 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.1%

NYSE ABBV opened at $234.07 on Monday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week 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 business’s fifty day simple moving average is $210.77 and its 200-day simple moving average is $195.79. The firm has a market cap of $413.49 billion, a PE ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51.

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

AbbVie Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. BMO Capital Markets lifted their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research note on Thursday, August 7th. HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday. Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, Morgan Stanley lifted their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 in the company, 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 currently owned by insiders.

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.