Frazier Financial Advisors LLC Sells 77 Shares of AbbVie Inc. $ABBV

Frazier Financial Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,908 shares of the company’s stock after selling 77 shares during the period. AbbVie accounts for about 2.3% of Frazier Financial Advisors LLC’s holdings, making the stock its 12th largest holding. Frazier Financial Advisors LLC’s holdings in AbbVie were worth $3,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised 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 worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC raised 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 worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. GAMMA Investing LLC raised 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 worth $10,235,000 after acquiring an additional 9,395 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of AbbVie by 5.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 536,450 shares of the company’s stock worth $112,398,000 after acquiring an additional 25,385 shares in the last quarter. Finally, Good Life Advisors LLC raised its position in shares of AbbVie by 4.5% in the 1st quarter. Good Life Advisors LLC now owns 54,416 shares of the company’s stock worth $11,401,000 after acquiring an additional 2,319 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. UBS Group set a $251.00 price objective on AbbVie in a research report on Friday, October 3rd. BMO Capital Markets raised their price objective on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

AbbVie Stock Performance

ABBV stock opened at $230.36 on Tuesday. The company has a market cap of $406.94 billion, a P/E ratio of 109.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s fifty day moving average price is $215.50 and its 200-day moving average price is $196.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm 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%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.65 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is 312.38%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on 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 transaction, the executive vice president 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 disclosure for this sale can be found here. 0.08% of the stock is currently 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.