JFG Wealth Management LLC Invests $365,000 in AbbVie Inc. (NYSE:ABBV)

JFG Wealth Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,126 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors boosted its stake in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Capital Research Global Investors boosted its stake in AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after acquiring an additional 992,496 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. Finally, Norges Bank acquired a new stake in AbbVie in the fourth quarter valued at approximately $3,229,888,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock traded up $1.88 on Tuesday, reaching $198.19. 271,180 shares of the company were exchanged, compared to its average volume of 5,411,061. The company has a market cap of $349.98 billion, a price-to-earnings ratio of 58.25, a P/E/G ratio of 2.68 and a beta of 0.64. The business has a 50-day moving average price of $181.91 and a 200 day moving average price of $174.07. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $198.44.

AbbVie (NYSE:ABBV) last posted its quarterly 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $1.55 per share. The ex-dividend date was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.13%. AbbVie’s payout ratio is presently 183.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays lifted their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Insider Buying and Selling at AbbVie

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