Ausdal Financial Partners Inc. Has $5.50 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Ausdal Financial Partners Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,087 shares of the company’s stock after buying an additional 273 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in AbbVie were worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter worth $27,000. Able Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC acquired a new position in AbbVie during the 1st quarter valued at $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie in the 4th quarter valued at $37,000. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, 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.

AbbVie Trading Up 0.3 %

NYSE:ABBV traded up $0.54 on Friday, hitting $193.40. 4,312,632 shares of the stock were exchanged, compared to its average volume of 5,427,167. The stock has a market capitalization of $341.52 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 2.68 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. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company’s 50-day moving average price is $183.88 and its 200 day moving average price is $174.60.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.21%. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. BMO Capital Markets lifted their price objective on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. 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. Barclays increased their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie 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.