Capital Advisors Inc. OK Buys 296 Shares of AbbVie Inc. $ABBV

Capital Advisors Inc. OK increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,100 shares of the company’s stock after purchasing an additional 296 shares during the quarter. AbbVie makes up 1.2% of Capital Advisors Inc. OK’s portfolio, making the stock its 23rd biggest holding. Capital Advisors Inc. OK’s holdings in AbbVie were worth $64,429,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Capital Management LLC grew its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie during the second quarter worth about $25,000. Abound Financial LLC purchased a new stake in shares of AbbVie during the first quarter worth about $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the first quarter worth about $35,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie during the 1st quarter valued at approximately $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 firm’s 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred 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 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. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $234.07 on Monday. The stock has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $210.77 and a 200-day moving average price of $195.79. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81.

AbbVie (NYSE:ABBV) last announced its 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 company had revenue of $15.42 billion during 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%.AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.65 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 paid 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 currently 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. UBS Group set a $251.00 price target on AbbVie in a report on Friday. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. HSBC set a $225.00 price target on AbbVie in a report on Thursday. Finally, Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $228.22.

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.