AbbVie Inc. $ABBV Shares Acquired by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,568 shares of the company’s stock after buying an additional 262 shares during the quarter. Trueblood Wealth Management LLC’s holdings in AbbVie were worth $1,219,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABBV. Nuveen LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. raised its holdings in AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in AbbVie during the second quarter worth $581,817,000. Finally, Bessemer Group Inc. raised its holdings in AbbVie by 147.6% during the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock worth $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. HSBC set a $225.00 price objective on AbbVie in a report on Thursday. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. UBS Group set a $251.00 price objective on AbbVie in a report on Friday. Finally, Bank of America lifted their price objective on AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $229.14.

AbbVie Stock Performance

AbbVie stock opened at $230.28 on Tuesday. 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 fifty day moving average of $211.61 and a two-hundred day moving average of $195.93. The company has a market capitalization of $406.80 billion, a price-to-earnings ratio of 109.66, a PEG ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last released its quarterly 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). The company 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

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

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.