Mattson Financial Services LLC Buys New Stake in AbbVie Inc. (NYSE:ABBV)

Mattson Financial Services LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,751 shares of the company’s stock, valued at approximately $1,158,000.

A number of other institutional investors have also made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at approximately $27,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $36,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.1 %

NYSE:ABBV opened at $196.74 on Thursday. The company has a market cap of $347.42 billion, a price-to-earnings ratio of 58.38, 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. The stock’s fifty day moving average price is $192.90 and its two-hundred day moving average price is $176.61. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the company earned $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 dividend on an annualized basis and a yield of 3.15%. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ABBV shares. Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Truist Financial reissued a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, BMO Capital Markets lifted their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Buy” and a consensus 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 company’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on 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 completion of the sale, 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. Insiders own 0.25% of the company’s stock.

AbbVie Company 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.