Westwood Holdings Group Inc. Purchases 130 Shares of AbbVie Inc. (NYSE:ABBV)

Westwood Holdings Group Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,380 shares of the company’s stock after acquiring an additional 130 shares during the period. Westwood Holdings Group Inc.’s holdings in AbbVie were worth $1,952,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter worth approximately $26,000. IFS Advisors LLC bought a new position in AbbVie in the 1st quarter worth approximately $36,000. Finally, Redmont Wealth Advisors LLC bought a new position in AbbVie in the 1st quarter worth approximately $37,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

NYSE:ABBV opened at $193.47 on Monday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock 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 business’s 50-day simple moving average is $189.35 and its 200-day simple moving average is $175.76.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the business posted $2.91 EPS. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Barclays boosted their price objective 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. 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. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Finally, Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $191.64.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred 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. Company insiders own 0.25% of the company’s stock.

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.