AbbVie Inc. (NYSE:ABBV) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,458 shares of the company’s stock after acquiring an additional 137 shares during the period. Occidental Asset Management LLC’s holdings in AbbVie were worth $870,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABBV. Goepper Burkhardt LLC lifted its position in shares of AbbVie by 1.9% in the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the period. Naviter Wealth LLC lifted its position in shares of AbbVie by 0.9% in the 1st quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock worth $1,176,000 after purchasing an additional 68 shares during the period. Delta Financial Group Inc. lifted its position in shares of AbbVie by 1.2% in the 1st quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock worth $917,000 after purchasing an additional 68 shares during the period. Sand Hill Global Advisors LLC lifted its position in shares of AbbVie by 0.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after acquiring an additional 68 shares during the period. Finally, Kistler Tiffany Companies LLC lifted its position in shares of AbbVie by 0.6% during the 1st quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after acquiring an additional 70 shares during the period. 67.86% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.2 %

Shares of AbbVie stock opened at $153.93 on Tuesday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11. The company has a market cap of $271.69 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.79 and a beta of 0.58. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. The company’s 50-day moving average price is $146.42 and its 200-day moving average price is $147.44.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) 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. On average, equities analysts expect that AbbVie Inc. will post 11.03 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 121.81%.

Insider Buying and Selling

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the transaction, the chief executive officer now directly owns 625,294 shares in the company, valued at $93,262,600.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBV. Piper Sandler boosted their target price on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. Piper Jaffray Companies boosted their price target 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. HSBC initiated coverage on shares of AbbVie in a research note on Friday, July 14th. They issued a “buy” rating and a $167.00 target price for the company. Finally, Credit Suisse Group reduced their target price on shares of AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.

AbbVie 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.