AbbVie Inc. (NYSE:ABBV) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,309,684 shares of the company’s stock after acquiring an additional 26,088 shares during the period. AbbVie comprises approximately 0.6% of ProShare Advisors LLC’s investment portfolio, making the stock its 28th biggest position. ProShare Advisors LLC owned approximately 0.07% of AbbVie worth $224,637,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $27,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $33,000. Finally, IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Buy” and a consensus price target of $191.64.

AbbVie Stock Performance

Shares of ABBV stock opened at $193.47 on Friday. The firm’s 50 day moving average price is $189.35 and its 200-day moving average price is $175.80. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The firm has a market cap of $341.64 billion, a P/E ratio of 57.41, a P/E/G ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the business posted $2.91 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. AbbVie’s dividend payout ratio is currently 183.98%.

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.