Callan Capital LLC Has $1.04 Million Position in AbbVie Inc. (NYSE:ABBV)

Callan Capital LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 2nd quarter, Holdings Channel reports. The firm owned 6,063 shares of the company’s stock after purchasing an additional 66 shares during the quarter. Callan Capital LLC’s holdings in AbbVie were worth $1,040,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Frisch Financial Group Inc. raised its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of AbbVie by 1.3% in the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after purchasing an additional 55 shares in the last quarter. Hilltop Partners LLC raised its position in AbbVie by 1.4% in the 2nd quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after purchasing an additional 55 shares during the last quarter. Lokken Investment Group LLC lifted its holdings in AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after buying an additional 58 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC boosted its position in AbbVie by 1.0% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock valued at $964,000 after buying an additional 58 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

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

AbbVie Stock Up 0.4 %

NYSE:ABBV opened at $193.63 on Friday. The company has a market cap of $341.93 billion, a PE ratio of 57.46, a PEG ratio of 2.66 and a beta of 0.64. The stock has a 50-day simple moving average of $188.89 and a 200 day simple moving average of $175.71. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.91 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. BMO Capital Markets boosted their price objective on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Piper Sandler boosted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and an average target price of $191.64.

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.