AbbVie Inc. (NYSE:ABBV) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 38.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,256 shares of the company’s stock after acquiring an additional 64,979 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AbbVie were worth $40,008,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the second quarter worth about $27,000. Able Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $36,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $37,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $193.40 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The business’s 50 day moving average is $183.88 and its two-hundred day moving average is $174.60. The company has a market cap of $341.52 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.68 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 EPS. On average, equities analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABBV shares. Wells Fargo & Company increased their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley raised their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Barclays raised their price objective on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $191.64.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.