Eubel Brady & Suttman Asset Management Inc. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,714 shares of the company’s stock, valued at approximately $294,000.

Several other hedge funds have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the second quarter valued at approximately $27,000. Able Wealth Management LLC purchased a new position in AbbVie during the 4th quarter valued at approximately $33,000. IFS Advisors LLC bought a new stake in AbbVie in the 1st quarter worth approximately $36,000. Finally, Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction 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 can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV stock opened at $196.70 on Tuesday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The firm has a market cap of $347.44 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 2.64 and a beta of 0.64. The business’s fifty day simple moving average is $184.40 and its two-hundred day simple moving average is $174.74. 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 (NYSE:ABBV) last posted 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 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 quarter last year, the firm posted $2.91 EPS. Analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.15%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ABBV shares. BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays lifted their price target on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Piper Sandler boosted 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. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.