REAP Financial Group LLC Boosts Stake in AbbVie Inc. $ABBV

REAP Financial Group LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 76.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,145 shares of the company’s stock after acquiring an additional 497 shares during the period. REAP Financial Group LLC’s holdings in AbbVie were worth $213,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FF Advisors LLC grew its stake in AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after purchasing an additional 53 shares during the last quarter. Private Management Group Inc. grew its position in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after buying an additional 54 shares during the last quarter. Silicon Valley Capital Partners grew its position in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after buying an additional 56 shares during the last quarter. Seneca House Advisors lifted its position in AbbVie by 2.7% during the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after acquiring an additional 56 shares during the last quarter. Finally, Castle Wealth Management LLC lifted its position in AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after acquiring an additional 57 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’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 value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

AbbVie Stock Up 1.4%

ABBV stock opened at $233.42 on Wednesday. The firm’s fifty day simple moving average is $212.45 and its 200-day simple moving average is $196.19. The company has a market capitalization of $412.35 billion, a P/E ratio of 111.15, a price-to-earnings-growth ratio of 1.35 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. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for 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%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. UBS Group set a $251.00 price target on AbbVie in a research report on Friday. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Saturday, September 27th. Bank of America raised their price target on AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Cantor Fitzgerald raised their price target on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $229.14.

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.