GoalVest Advisory LLC Acquires 277 Shares of AbbVie Inc. $ABBV

GoalVest Advisory LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,945 shares of the company’s stock after acquiring an additional 277 shares during the quarter. AbbVie accounts for about 0.7% of GoalVest Advisory LLC’s portfolio, making the stock its 23rd largest position. GoalVest Advisory LLC’s holdings in AbbVie were worth $2,774,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the second quarter worth $25,000. Abound Financial LLC acquired a new stake in shares of AbbVie during the first quarter worth $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. increased its position in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after buying an additional 173 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday, October 2nd. Wall Street Zen raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Stock Performance

ABBV opened at $228.06 on Monday. 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’s fifty day moving average price is $220.69 and its two-hundred day moving average price is $199.24. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a market cap of $402.87 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts expect 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. Shareholders of record on Wednesday, October 15th will be issued 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 2.9%. AbbVie’s dividend payout ratio is presently 312.38%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The shares were 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 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. Corporate 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.