AbbVie Inc. (NYSE:ABBV) Shares Purchased by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,718 shares of the company’s stock after acquiring an additional 243 shares during the quarter. AbbVie comprises about 1.1% of Ranch Capital Advisors Inc.’s holdings, making the stock its 26th largest position. Ranch Capital Advisors Inc.’s holdings in AbbVie were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in AbbVie by 9.8% in the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after buying an additional 861 shares during the period. Aveo Capital Partners LLC raised its stake in shares of AbbVie by 5.1% in the 4th quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $666,000 after acquiring an additional 210 shares during the period. 9258 Wealth Management LLC lifted its holdings in shares of AbbVie by 1.7% during the 4th quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after acquiring an additional 283 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in AbbVie by 1.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock worth $12,972,000 after purchasing an additional 1,531 shares during the period. Finally, Tidemark LLC acquired a new stake in AbbVie in the 4th quarter valued at $92,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 0.4 %

Shares of NYSE:ABBV opened at $193.63 on Friday. The company has a 50 day moving average of $188.89 and a 200-day moving average of $175.71. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm has a market cap of $341.93 billion, a P/E ratio of 57.46, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last posted 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 net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. BMO Capital Markets raised their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Two equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $191.64.

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.