HBK Sorce Advisory LLC Acquires 473 Shares of AbbVie Inc. $ABBV

HBK Sorce Advisory LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,995 shares of the company’s stock after acquiring an additional 473 shares during the quarter. HBK Sorce Advisory LLC’s holdings in AbbVie were worth $3,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC boosted its position in shares of 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 acquiring an additional 58 shares during the period. Abound Financial LLC bought a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. boosted its position in shares of 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 acquiring an additional 173 shares during the period. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction 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 approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a research report on Monday, October 13th. BMO Capital Markets raised their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, HSBC set a $225.00 target price on AbbVie in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $234.80.

AbbVie Stock Down 1.0%

Shares of NYSE ABBV opened at $225.24 on Thursday. The stock has a market cap of $397.90 billion, a PE ratio of 107.26, a PEG ratio of 1.44 and a beta of 0.51. The business has a fifty day moving average of $221.89 and a two-hundred day moving average of $200.31. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 company had revenue of $15.42 billion for 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 firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) 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.