Conservest Capital Advisors Inc. Has $233,000 Holdings in AbbVie Inc. $ABBV

Conservest Capital Advisors Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,258 shares of the company’s stock after acquiring an additional 57 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in AbbVie were worth $233,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ABBV. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC boosted its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the first quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. boosted its stake in AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after buying an additional 173 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 transaction of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Guggenheim raised their price objective on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

AbbVie Price Performance

AbbVie stock opened at $228.06 on Friday. The firm has a market cap of $402.87 billion, a P/E ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51. The stock’s 50 day moving average is $220.69 and its 200 day moving average is $199.11. 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 one year low of $163.81 and a one year high of $244.81.

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

AbbVie Dividend Announcement

The firm also recently announced 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. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

AbbVie Company 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.