Comprehensive Financial Consultants Institutional Inc. Buys 17,365 Shares of AbbVie Inc. $ABBV

Comprehensive Financial Consultants Institutional Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1,344.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,657 shares of the company’s stock after purchasing an additional 17,365 shares during the period. AbbVie comprises approximately 1.1% of Comprehensive Financial Consultants Institutional Inc.’s portfolio, making the stock its 27th biggest position. Comprehensive Financial Consultants Institutional Inc.’s holdings in AbbVie were worth $3,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in shares of AbbVie by 5.5% during the first quarter. Signal Advisors Wealth LLC now owns 1,733 shares of the company’s stock valued at $363,000 after acquiring an additional 91 shares during the last quarter. KFG Wealth Management LLC increased its position in shares of AbbVie by 9.6% during the first quarter. KFG Wealth Management LLC now owns 1,819 shares of the company’s stock valued at $381,000 after buying an additional 160 shares during the period. Finally, Sunflower Bank N.A. grew its holdings in AbbVie by 0.8% in the first quarter. Sunflower Bank N.A. now owns 13,763 shares of the company’s stock worth $2,884,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a report on Thursday, August 7th. Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Guggenheim boosted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

AbbVie Price Performance

Shares of NYSE ABBV opened at $234.07 on Monday. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. 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 company’s fifty day moving average is $210.77 and its two-hundred day moving average is $195.79. The firm has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the firm posted $2.65 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was 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 directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on 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 directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

AbbVie Company 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.