AbbVie Inc. (NYSE:ABBV) Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 246.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,018 shares of the company’s stock after acquiring an additional 4,279 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in AbbVie were worth $1,032,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. American National Bank grew its holdings in shares of AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares in the last quarter. AXS Investments LLC grew its holdings in shares of AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Opinicus Capital Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $1,296,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Morgan Stanley boosted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler increased their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

AbbVie Trading Down 0.7 %

Shares of AbbVie stock traded down $1.34 on Tuesday, reaching $196.10. 417,302 shares of the company’s stock were exchanged, compared to its average volume of 5,453,234. The company has a market capitalization of $346.29 billion, a P/E ratio of 58.61, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $198.30. The firm’s 50-day moving average is $179.49 and its two-hundred day moving average is $173.31. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the business earned $2.91 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 10.87 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is 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.