SWS Partners Acquires 327 Shares of AbbVie Inc. $ABBV

SWS Partners raised its holdings in AbbVie Inc. (NYSE:ABBV) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,771 shares of the company’s stock after purchasing an additional 327 shares during the quarter. SWS Partners’ holdings in AbbVie were worth $3,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Mattson Financial Services LLC raised its position in AbbVie by 4.0% in the 1st quarter. Mattson Financial Services LLC now owns 5,211 shares of the company’s stock valued at $1,092,000 after purchasing an additional 201 shares during the last quarter. Westbourne Investments Inc. raised its position in AbbVie by 1.4% in the 1st quarter. Westbourne Investments Inc. now owns 7,385 shares of the company’s stock valued at $1,547,000 after purchasing an additional 100 shares during the last quarter. Reliant Investment Partners LLC raised its position in AbbVie by 2.4% in the 1st quarter. Reliant Investment Partners LLC now owns 7,684 shares of the company’s stock valued at $1,610,000 after purchasing an additional 177 shares during the last quarter. Acadian Asset Management LLC raised its position in AbbVie by 5.7% in the 1st quarter. Acadian Asset Management LLC now owns 142,756 shares of the company’s stock valued at $29,898,000 after purchasing an additional 7,640 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in AbbVie by 0.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 32,164 shares of the company’s stock valued at $6,739,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.7%

NYSE ABBV opened at $211.84 on Thursday. The stock has a 50-day simple moving average of $199.06 and a 200 day simple moving average of $194.37. The company has a market capitalization of $374.23 billion, a PE ratio of 100.88, a P/E/G ratio of 1.35 and a beta of 0.53. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.65 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Analysts Set New Price Targets

Several brokerages have issued reports on ABBV. Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.95.

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.