Maia Wealth LLC Makes New $474,000 Investment in AbbVie Inc. (NYSE:ABBV)

Maia Wealth LLC bought a new position in AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,819 shares of the company’s stock, valued at approximately $474,000.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in AbbVie during the fourth quarter worth $41,416,000. Outlook Wealth Advisors LLC increased its stake in AbbVie by 5.5% in the fourth quarter. Outlook Wealth Advisors LLC now owns 1,651 shares of the company’s stock valued at $256,000 after acquiring an additional 86 shares during the period. Simplicity Wealth LLC acquired a new position in AbbVie in the fourth quarter worth about $213,000. Lecap Asset Management Ltd. bought a new position in AbbVie during the fourth quarter worth about $784,000. Finally, River Street Advisors LLC grew its stake in shares of AbbVie by 2.6% in the 4th quarter. River Street Advisors LLC now owns 9,391 shares of the company’s stock valued at $1,455,000 after purchasing an additional 237 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Tuesday, July 2nd. BMO Capital Markets lifted their price target on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Barclays increased their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

AbbVie Price Performance

Shares of ABBV traded up $0.64 during mid-day trading on Wednesday, reaching $191.87. The company had a trading volume of 209,762 shares, compared to its average volume of 5,527,685. The company has a market capitalization of $338.82 billion, a price-to-earnings ratio of 56.74, a P/E/G ratio of 2.49 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s 50 day simple moving average is $174.52 and its 200 day simple moving average is $171.64. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $193.91.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 completion of the sale, the chairman now 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 company insiders.

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.