AbbVie Inc. $ABBV Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 175.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,251 shares of the company’s stock after purchasing an additional 35,208 shares during the quarter. Simplicity Wealth LLC’s holdings in AbbVie were worth $10,256,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie in the second quarter valued at $25,000. TD Capital Management LLC boosted its stake in AbbVie by 82.9% in the 1st 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 last quarter. Abound Financial LLC acquired a new stake in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $234.07 on Friday. 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 company has a market capitalization of $413.49 billion, a PE ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The business has a 50 day simple moving average of $210.77 and a 200 day simple moving average of $195.90.

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

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABBV shares. Bank of America lifted their price objective on AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research 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. BMO Capital Markets boosted their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.22.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% 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.