Ted Buchan & Co Buys Shares of 1,587 AbbVie Inc. (NYSE:ABBV)

Ted Buchan & Co bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,587 shares of the company’s stock, valued at approximately $272,000.

Other institutional investors also recently bought and sold shares of the company. West Coast Financial LLC boosted its stake in AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after acquiring an additional 140 shares in the last quarter. FCG Investment Co acquired a new stake in AbbVie in the first quarter valued at approximately $1,413,000. Safeguard Financial LLC acquired a new stake in AbbVie in the first quarter valued at approximately $235,000. BluePath Capital Management LLC raised its holdings in shares of AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after buying an additional 67 shares during the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $87,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

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

AbbVie Price Performance

AbbVie stock opened at $197.48 on Tuesday. The company’s fifty day moving average price is $192.02 and its 200 day moving average price is $176.34. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The stock has a market capitalization of $348.72 billion, a P/E ratio of 58.60, a P/E/G ratio of 2.65 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.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $14.02 billion. During the same quarter last year, the company earned $2.91 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.14%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $191.64.

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.