AbbVie Inc. (NYSE:ABBV) Shares Bought by Profund Advisors LLC

Profund Advisors LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,004 shares of the company’s stock after buying an additional 11,603 shares during the period. Profund Advisors LLC’s holdings in AbbVie were worth $8,062,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the fourth quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the 2nd quarter valued at about $27,000. Able Wealth Management LLC acquired a new position in AbbVie during the 4th quarter valued at about $33,000. Finally, IFS Advisors LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $36,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ABBV shares. BMO Capital Markets increased their price objective on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Barclays boosted their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $191.64.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated 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 transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $193.47 on Friday. The company has a market capitalization of $341.64 billion, a PE ratio of 57.41, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a fifty day moving average of $189.35 and a 200-day moving average of $175.80. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

AbbVie (NYSE:ABBV) last announced 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.91 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) 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.