AbbVie Inc. (NYSE:ABBV) Shares Acquired by Sachetta LLC

Sachetta LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,587 shares of the company’s stock after buying an additional 320 shares during the quarter. Sachetta LLC’s holdings in AbbVie were worth $1,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Capital Advisors Ltd. LLC raised its holdings in shares of AbbVie by 1.3% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares in the last quarter. Hilltop Partners LLC increased its holdings in shares of AbbVie by 1.4% in the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock valued at $662,000 after buying an additional 55 shares in the last quarter. Lokken Investment Group LLC lifted its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after acquiring an additional 58 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its stake in shares of AbbVie by 1.0% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after acquiring an additional 58 shares in the last quarter. Finally, RAM Investment Partners LLC grew its holdings in shares of AbbVie by 1.1% in the 2nd quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock worth $895,000 after acquiring an additional 59 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated 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 transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated 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 directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Morgan Stanley boosted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Barclays increased their target price on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $191.64.

AbbVie Price Performance

Shares of ABBV opened at $196.37 on Tuesday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market cap of $346.86 billion, a PE ratio of 58.27, a PEG ratio of 2.64 and a beta of 0.64. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The firm’s 50 day moving average price is $184.40 and its 200 day moving average price is $174.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business 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%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.16%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

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.