Abundance Wealth Counselors Has $3.05 Million Position in AbbVie Inc. $ABBV

Abundance Wealth Counselors lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,428 shares of the company’s stock after selling 247 shares during the quarter. Abundance Wealth Counselors’ holdings in AbbVie were worth $3,047,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie during the second quarter worth about $25,000. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC bought a new position in shares of AbbVie during the first quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the first quarter worth about $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie during the first quarter worth about $42,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV opened at $236.98 on Friday. The company has a market capitalization of $418.63 billion, a PE ratio of 112.85, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business has a fifty day simple moving average of $209.90 and a 200 day simple moving average of $195.87. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.65 earnings per share. Research analysts expect 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. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup raised their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. HSBC set a $225.00 price objective on AbbVie in a research report on Thursday. Piper Sandler assumed coverage on AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Finally, Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $223.52.

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.