AbbVie Inc. $ABBV Shares Acquired by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 168.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,486 shares of the company’s stock after purchasing an additional 2,817 shares during the period. Drucker Wealth 3.0 LLC’s holdings in AbbVie were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. FF Advisors LLC increased its position in AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after acquiring an additional 53 shares during the period. Private Management Group Inc. increased its holdings in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after purchasing an additional 54 shares during the period. LifeSteps Financial Inc. increased its holdings in shares of AbbVie by 0.7% in the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after purchasing an additional 54 shares during the period. Silicon Valley Capital Partners increased its stake in AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after buying an additional 56 shares during the period. Finally, Seneca House Advisors increased its stake in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent analyst reports. UBS Group set a $251.00 price target on shares of AbbVie in a research note on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the stock an “overweight” rating in a research report on Thursday. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.90.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents 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 dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.1%

Shares of ABBV stock opened at $230.88 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business has a fifty day simple moving average of $214.84 and a 200-day simple moving average of $196.79. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock has a market cap of $407.86 billion, a P/E ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

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.