MBA Advisors LLC Purchases 495 Shares of AbbVie Inc. (NYSE:ABBV)

MBA Advisors LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,218 shares of the company’s stock after acquiring an additional 495 shares during the period. MBA Advisors LLC’s holdings in AbbVie were worth $1,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in shares of AbbVie in the 2nd quarter valued at about $8,463,000. TFB Advisors LLC grew its position in shares of AbbVie by 6.7% in the 2nd quarter. TFB Advisors LLC now owns 1,724 shares of the company’s stock valued at $296,000 after acquiring an additional 108 shares during the period. Adero Partners LLC grew its position in shares of AbbVie by 26.2% in the 2nd quarter. Adero Partners LLC now owns 4,024 shares of the company’s stock valued at $690,000 after acquiring an additional 836 shares during the period. WMG Financial Advisors LLC grew its position in shares of AbbVie by 26.5% in the 2nd quarter. WMG Financial Advisors LLC now owns 2,037 shares of the company’s stock valued at $349,000 after acquiring an additional 427 shares during the period. Finally, Grey Fox Wealth Advisors LLC grew its position in shares of AbbVie by 12.0% in the 2nd quarter. Grey Fox Wealth Advisors LLC now owns 2,810 shares of the company’s stock valued at $482,000 after acquiring an additional 300 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays lifted their target price on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. BMO Capital Markets lifted their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.64.

AbbVie Stock Performance

NYSE ABBV traded up $1.13 during trading on Friday, reaching $196.31. The company’s stock had a trading volume of 3,820,802 shares, compared to its average volume of 5,441,654. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $346.66 billion, a price-to-earnings ratio of 58.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $198.30. The firm has a 50 day moving average price of $181.44 and a 200 day moving average price of $173.93.

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

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s payout ratio is presently 183.98%.

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.