Investors Asset Management of Georgia Inc. GA ADV Has $3.46 Million Stock Position in AbbVie Inc. $ABBV

Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,621 shares of the company’s stock after buying an additional 1,749 shares during the quarter. AbbVie makes up 1.6% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 11th biggest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in AbbVie were worth $3,456,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new position in AbbVie in the 2nd quarter valued at approximately $25,000. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter worth $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the first quarter worth $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the first quarter worth $42,000. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ABBV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Saturday, September 27th. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $228.22.

AbbVie Stock Performance

NYSE:ABBV opened at $234.07 on Monday. The company has a fifty day moving average of $210.77 and a 200-day moving average of $195.79. The firm has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

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.