StrongBox Wealth LLC Has $744,000 Stock Holdings in AbbVie Inc. $ABBV

StrongBox Wealth LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,006 shares of the company’s stock after buying an additional 128 shares during the period. StrongBox Wealth LLC’s holdings in AbbVie were worth $744,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. TD Capital Management LLC boosted its stake in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in AbbVie during the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter valued at about $35,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie during the 4th quarter valued at about $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $216.27 on Wednesday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $221.76. The stock’s 50 day moving average price is $201.39 and its 200-day moving average price is $194.66. The company has a market capitalization of $382.05 billion, a PE ratio of 102.99, a PEG ratio of 1.40 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the firm earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley lifted their price target on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $220.43.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.