Massachusetts Wealth Management Has $1.79 Million Stock Position in AbbVie Inc. $ABBV

Massachusetts Wealth Management lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,656 shares of the company’s stock after selling 175 shares during the quarter. Massachusetts Wealth Management’s holdings in AbbVie were worth $1,792,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of 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 increased its position in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of AbbVie in the 1st quarter valued at $5,224,000. GAMMA Investing LLC increased its position in shares of AbbVie by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after buying an additional 9,395 shares in the last quarter. Finally, Trueblood Wealth Management LLC increased its position in shares of AbbVie by 3.1% in the 1st quarter. Trueblood Wealth Management LLC now owns 6,306 shares of the company’s stock valued at $1,321,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 in the company, valued at $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 is available at this hyperlink. 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 transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $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. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Cantor Fitzgerald increased their target price on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Finally, Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Four research 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 stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $229.14.

AbbVie Trading Down 0.7%

Shares of NYSE:ABBV opened at $231.26 on Thursday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a market capitalization of $408.53 billion, a P/E ratio of 110.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. The company has a 50-day simple moving average of $213.28 and a 200 day simple moving average of $196.43. 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 (NYSE:ABBV) last issued its earnings results 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). 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 quarter last year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts forecast 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. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

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.