Quilter Plc Purchases 1,000 Shares of AbbVie Inc. (NYSE:ABBV)

Quilter Plc boosted its position in AbbVie Inc. (NYSE:ABBV) by 14.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,803 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Quilter Plc’s holdings in AbbVie were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in 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 bought a new position in shares of AbbVie in the second quarter worth $27,000. Able Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the first quarter valued at $36,000. Finally, Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated 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 $89,792,325. The transaction 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 stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $194.21 on Monday. The stock’s 50-day moving average is $186.83 and its 200 day moving average is $175.22. The stock has a market cap of $343.04 billion, a price-to-earnings ratio of 57.63, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Buy” and a consensus 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.