Atomi Financial Group Inc. Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Atomi Financial Group Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,373 shares of the company’s stock after purchasing an additional 516 shares during the quarter. Atomi Financial Group Inc.’s holdings in AbbVie were worth $2,443,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Frisch Financial Group Inc. grew its stake in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after purchasing an additional 53 shares during the period. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in AbbVie by 1.3% during the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after buying an additional 55 shares during the period. Hilltop Partners LLC increased its holdings in AbbVie by 1.4% during the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock valued at $662,000 after buying an additional 55 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC raised its position in AbbVie by 1.0% in the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after acquiring an additional 58 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV traded down $0.90 during trading on Tuesday, reaching $192.71. 791,450 shares of the company traded hands, compared to its average volume of 5,311,091. The company has a market cap of $340.30 billion, a P/E ratio of 57.17, a PEG ratio of 2.65 and a beta of 0.63. 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 12-month low of $135.85 and a 12-month high of $199.95. The firm has a fifty day simple moving average of $193.35 and a 200 day simple moving average of $176.84.

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

AbbVie Announces Dividend

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 issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABBV. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Morgan Stanley boosted their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $194.67.

About AbbVie

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.