Texas Yale Capital Corp. increased its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,097 shares of the company’s stock after purchasing an additional 550 shares during the quarter. Texas Yale Capital Corp.’s holdings in AbbVie were worth $4,594,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Goepper Burkhardt LLC raised its stake in AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the period. Delta Financial Group Inc. grew its holdings in shares of AbbVie by 1.2% in the first quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock valued at $917,000 after purchasing an additional 68 shares in the last quarter. Sand Hill Global Advisors LLC grew its holdings in shares of AbbVie by 0.4% in the first quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after purchasing an additional 68 shares in the last quarter. Kistler Tiffany Companies LLC lifted its stake in AbbVie by 0.6% in the first quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock worth $1,963,000 after acquiring an additional 70 shares during the last quarter. Finally, Sonen Capital LLC lifted its stake in AbbVie by 4.8% in the first quarter. Sonen Capital LLC now owns 1,537 shares of the company’s stock worth $245,000 after acquiring an additional 70 shares during the last quarter. 67.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. William Blair assumed coverage on shares of AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating for the company. Piper Sandler boosted their price objective on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. StockNews.com initiated coverage on shares of AbbVie in a research report on Thursday, October 5th. They set a “strong-buy” rating for the company. HSBC initiated coverage on shares of AbbVie in a research report on Friday, July 14th. They set a “buy” rating and a $167.00 price objective for the company. Finally, Piper Sandler Companies boosted their price objective on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $166.25.
Get Our Latest Analysis on ABBV
Insider Buying and Selling
In related news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the sale, the chief executive officer now owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.
AbbVie Trading Down 4.3 %
Shares of ABBV stock opened at $138.93 on Friday. The firm has a market cap of $245.22 billion, a P/E ratio of 28.59, a PEG ratio of 2.63 and a beta of 0.56. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77. The firm’s 50-day simple moving average is $148.82 and its 200-day simple moving average is $146.09.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.09. The business had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.72 billion. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.66 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 11.03 EPS for the current year.
AbbVie Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, January 12th. This is an increase from AbbVie’s previous quarterly dividend of $1.48. AbbVie’s dividend payout ratio is 121.81%.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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