AbbVie Inc. $ABBV Shares Bought by apricus wealth LLC

apricus wealth LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,569 shares of the company’s stock after buying an additional 589 shares during the period. AbbVie makes up 2.2% of apricus wealth LLC’s portfolio, making the stock its 10th largest holding. apricus wealth LLC’s holdings in AbbVie were worth $3,818,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ABBV. LGT Financial Advisors LLC grew its position in shares of AbbVie by 4.8% in the second quarter. LGT Financial Advisors LLC now owns 1,495 shares of the company’s stock valued at $277,000 after purchasing an additional 68 shares during the last quarter. Triton Financial Group Inc bought a new position in AbbVie during the 2nd quarter worth $1,545,000. VCI Wealth Management LLC lifted its holdings in shares of AbbVie by 18.6% during the second quarter. VCI Wealth Management LLC now owns 9,028 shares of the company’s stock worth $1,676,000 after buying an additional 1,414 shares in the last quarter. Klingman & Associates LLC grew its stake in shares of AbbVie by 11.7% in the second quarter. Klingman & Associates LLC now owns 13,054 shares of the company’s stock valued at $2,423,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its position in AbbVie by 3.2% during the second quarter. Pittenger & Anderson Inc. now owns 27,883 shares of the company’s stock worth $5,176,000 after acquiring an additional 853 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.1%

Shares of NYSE ABBV opened at $232.07 on Tuesday. The stock has a 50-day moving average price of $218.58 and a two-hundred day moving average price of $197.84. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market cap of $409.97 billion, a price-to-earnings ratio of 110.51, a PEG ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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 dividend payout ratio (DPR) is currently 312.38%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. HSBC set a $225.00 target price on shares of AbbVie in a research report on Thursday, October 2nd. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Daiwa Capital Markets raised 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. Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, 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. Insiders own 0.08% of the company’s stock.

AbbVie 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.