3,609 Shares in AbbVie Inc. $ABBV Bought by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,609 shares of the company’s stock, valued at approximately $670,000.

Several other hedge funds have also recently made changes to their positions in ABBV. Brighton Jones LLC increased its position in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Golden State Wealth Management LLC increased its stake in AbbVie by 4.6% during the 1st quarter. Golden State Wealth Management LLC now owns 2,124 shares of the company’s stock worth $445,000 after buying an additional 93 shares in the last quarter. Rovin Capital UT ADV purchased a new stake in AbbVie during the 1st quarter valued at about $237,000. Finally, Vontobel Holding Ltd. raised its holdings in AbbVie by 2.9% in the 1st quarter. Vontobel Holding Ltd. now owns 134,440 shares of the company’s stock valued at $28,168,000 after acquiring an additional 3,841 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABBV. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and upped their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Bank of America lifted their price objective on AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Erste Group Bank downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company lifted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Two research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Price Performance

ABBV stock opened at $225.24 on Thursday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The stock has a 50-day moving average price of $221.89 and a two-hundred day moving average price of $200.31. 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 $397.90 billion, a PE ratio of 107.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same period in the previous year, the company earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s payout ratio is 312.38%.

AbbVie Company 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.