AbbVie Inc. (NYSE:ABBV) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,635 shares of the company’s stock after purchasing an additional 8,119 shares during the period. Brookstone Capital Management’s holdings in AbbVie were worth $13,094,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. Geode Capital Management LLC boosted its stake in shares of AbbVie by 0.9% during the 1st quarter. Geode Capital Management LLC now owns 34,045,021 shares of the company’s stock worth $5,414,143,000 after acquiring an additional 292,512 shares in the last quarter. Morgan Stanley boosted its position in shares of AbbVie by 17.9% in the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after buying an additional 4,785,277 shares during the period. Moneta Group Investment Advisors LLC raised its position in AbbVie by 89,097.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AbbVie by 138.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,536,656 shares of the company’s stock valued at $3,432,297,000 after acquiring an additional 12,515,744 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the 4th quarter valued at about $3,033,348,000. 67.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. StockNews.com initiated coverage on shares of AbbVie in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. HSBC initiated coverage on shares of AbbVie in a research note on Friday, July 14th. They set a “buy” rating and a $167.00 price target on the stock. Piper Sandler lifted their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Credit Suisse Group lowered their target price on shares of AbbVie from $170.00 to $160.00 in a research report on Wednesday, July 12th. Finally, TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $165.79.

AbbVie Trading Down 1.0 %

Shares of ABBV opened at $152.12 on Monday. The stock’s 50-day moving average price is $146.42 and its 200 day moving average price is $147.44. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11. The firm has a market capitalization of $268.50 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 2.74 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The firm had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $13.52 billion. As a group, research analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 121.81%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.