Blue Barn Wealth LLC Takes $201,000 Position in AbbVie Inc. (NYSE:ABBV)

Blue Barn Wealth LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,173 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of AbbVie during the 2nd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter worth $26,000. IFS Advisors LLC bought a new position in AbbVie in the first quarter valued at $36,000. Redmont Wealth Advisors LLC acquired a new stake in AbbVie in the 1st quarter valued at $37,000. Finally, Able Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’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 in the company, valued at $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.6 %

Shares of ABBV opened at $194.07 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm’s 50 day moving average is $183.44 and its 200-day moving average is $174.50. The stock has a market capitalization of $342.70 billion, a PE ratio of 57.18, a P/E/G ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS 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 return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.19%. AbbVie’s dividend payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABBV. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Morgan Stanley increased their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $191.64.

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.