2,843 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Alethea Capital Management LLC

Alethea Capital Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,843 shares of the company’s stock, valued at approximately $488,000. AbbVie comprises 0.4% of Alethea Capital Management LLC’s portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in AbbVie by 9.8% in the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after purchasing an additional 861 shares during the period. Aveo Capital Partners LLC lifted its position in shares of AbbVie by 5.1% during the 4th quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $666,000 after buying an additional 210 shares in the last quarter. 9258 Wealth Management LLC grew its stake in shares of AbbVie by 1.7% during the 4th quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after acquiring an additional 283 shares during the period. Gryphon Financial Partners LLC increased its holdings in AbbVie by 1.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock worth $12,972,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in AbbVie by 4.8% during the fourth quarter. Scotia Capital Inc. now owns 155,440 shares of the company’s stock valued at $24,088,000 after purchasing an additional 7,111 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Truist Financial reissued a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Finally, Barclays upped their price target on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $191.64.

AbbVie Price Performance

AbbVie stock opened at $194.78 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. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The firm’s fifty day moving average is $191.09 and its 200 day moving average is $176.18. The company has a market cap of $343.96 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the firm earned $2.91 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.18%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.