Cravens & Co Advisors LLC Has $1.18 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Cravens & Co Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,903 shares of the company’s stock after buying an additional 515 shares during the quarter. AbbVie accounts for about 0.9% of Cravens & Co Advisors LLC’s holdings, making the stock its 20th biggest position. Cravens & Co Advisors LLC’s holdings in AbbVie were worth $1,184,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the 4th quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at $27,000. Able Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at $33,000. IFS Advisors LLC bought a new stake in AbbVie in the 1st quarter valued at $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. BMO Capital Markets raised their price objective on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased 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, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.64.

AbbVie Stock Performance

Shares of ABBV stock opened at $196.31 on Monday. The company’s fifty day simple moving average is $181.44 and its 200-day simple moving average is $173.93. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a market cap of $346.75 billion, a PE ratio of 58.25, a P/E/G ratio of 2.68 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $198.30.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.91 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $1.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.16%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

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