AbbVie Inc. (NYSE:ABBV) Shares Purchased by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,132 shares of the company’s stock after purchasing an additional 91 shares during the quarter. ICA Group Wealth Management LLC’s holdings in AbbVie were worth $1,774,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter worth approximately $566,000. Mission Creek Capital Partners Inc. grew its position in AbbVie by 15.4% in the first quarter. Mission Creek Capital Partners Inc. now owns 10,448 shares of the company’s stock worth $1,665,000 after buying an additional 1,394 shares during the last quarter. Sand Hill Global Advisors LLC increased its holdings in shares of AbbVie by 0.4% in the first quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after buying an additional 68 shares in the last quarter. Trek Financial LLC lifted its position in shares of AbbVie by 42.2% during the 1st quarter. Trek Financial LLC now owns 5,813 shares of the company’s stock valued at $926,000 after acquiring an additional 1,724 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of AbbVie by 3.2% during the 1st quarter. Prospera Financial Services Inc now owns 48,096 shares of the company’s stock worth $7,671,000 after acquiring an additional 1,476 shares in the last quarter. Institutional investors own 67.86% of the company’s stock.

AbbVie Trading Up 0.1 %

AbbVie stock opened at $149.02 on Friday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The stock has a market cap of $263.03 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.70 and a beta of 0.58. The company’s fifty day simple moving average is $144.93 and its 200-day simple moving average is $147.59.

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

AbbVie Dividend Announcement

The firm 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 dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.97%. AbbVie’s payout ratio is presently 121.81%.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. HSBC assumed coverage on AbbVie in a report on Friday, July 14th. They set a “buy” rating and a $167.00 target price for the company. Piper Jaffray Companies upped 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. William Blair started coverage on shares of AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating for the company. Piper Sandler boosted their price target on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, StockNews.com started coverage on shares of AbbVie in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.79.

Insider Buying and Selling at AbbVie

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction 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 owns 625,294 shares in the company, valued at approximately $93,262,600.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.