Investment Advisory Group LLC Buys 292 Shares of AbbVie Inc. $ABBV

Investment Advisory Group LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,695 shares of the company’s stock after purchasing an additional 292 shares during the period. Investment Advisory Group LLC’s holdings in AbbVie were worth $871,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the 2nd quarter valued at about $25,000. TD Capital Management LLC lifted its position 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 acquiring an additional 58 shares during the period. Abound Financial LLC purchased a new position in AbbVie during the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie during the 1st quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. lifted its position in AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.1%

Shares of AbbVie stock opened at $230.88 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market capitalization of $407.86 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a 50-day simple moving average of $214.84 and a two-hundred day simple moving average of $196.76.

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

AbbVie Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday, October 3rd. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.90.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie 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.