Conservest Capital Advisors Inc. Buys 57 Shares of AbbVie Inc. $ABBV

Conservest Capital Advisors Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,258 shares of the company’s stock after purchasing an additional 57 shares during the period. Conservest Capital Advisors Inc.’s holdings in AbbVie were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the 2nd quarter worth approximately $25,000. TD Capital Management LLC raised its stake in AbbVie by 82.9% in 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 bought a new stake in AbbVie in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the 1st quarter valued at $35,000. Finally, Bear Mountain Capital Inc. raised its stake in AbbVie by 480.6% in 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. BMO Capital Markets increased their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Guggenheim increased their price target on AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Raymond James Financial restated an “outperform” rating and issued a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research note on Friday, October 17th. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.80.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This 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 the stock in a transaction on 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 directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $228.06 on Friday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s fifty day moving average price is $220.69 and its two-hundred day moving average price is $199.11. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The firm has a market cap of $402.87 billion, a price-to-earnings ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released 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). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

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.