AbbVie Inc. (NYSE:ABBV) Shares Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its holdings in AbbVie Inc. (NYSE:ABBV) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,078 shares of the company’s stock after acquiring an additional 707 shares during the period. AustralianSuper Pty Ltd’s holdings in AbbVie were worth $1,557,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the fourth quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in AbbVie in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays boosted their price objective on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Insider Transactions at AbbVie

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

AbbVie Stock Performance

Shares of ABBV stock traded down $1.42 during trading hours on Wednesday, reaching $194.50. The stock had a trading volume of 1,413,040 shares, compared to its average volume of 5,440,877. The firm has a market capitalization of $343.46 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The firm has a 50-day simple moving average of $179.98 and a 200-day simple moving average of $173.46. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $198.30. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $14.02 billion. During the same quarter in the previous year, the business earned $2.91 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.