AbbVie Inc. $ABBV Shares Bought by Buck Wealth Strategies LLC

by · The Cerbat Gem

Buck Wealth Strategies LLC lifted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 49.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,209 shares of the company’s stock after acquiring an additional 728 shares during the period. Buck Wealth Strategies LLC’s holdings in AbbVie were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ABBV. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the 2nd quarter worth approximately $25,000. TD Capital Management LLC lifted its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in AbbVie during the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. lifted its stake in AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Down 1.0%

Shares of NYSE:ABBV opened at $225.24 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market cap of $397.90 billion, a PE ratio of 107.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The firm has a 50 day simple moving average of $221.89 and a 200 day simple moving average of $200.31.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. AbbVie’s dividend payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Piper Sandler increased their target price on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. increased their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Thursday, August 7th. Finally, Citigroup reissued a “neutral” rating on shares of AbbVie in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

View Our Latest Stock Analysis on ABBV

AbbVie Profile

(Free Report)

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.

Further Reading