Prentice Wealth Management LLC Purchases 658 Shares of AbbVie Inc. (NYSE:ABBV)

Prentice Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,483 shares of the company’s stock after acquiring an additional 658 shares during the quarter. Prentice Wealth Management LLC’s holdings in AbbVie were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. St. Louis Financial Planners Asset Management LLC grew its holdings in AbbVie by 12.0% during the second quarter. St. Louis Financial Planners Asset Management LLC now owns 12,568 shares of the company’s stock worth $1,693,000 after buying an additional 1,350 shares in the last quarter. Centre Asset Management LLC grew its holdings in AbbVie by 3.4% during the second quarter. Centre Asset Management LLC now owns 20,741 shares of the company’s stock worth $2,794,000 after buying an additional 683 shares in the last quarter. Apella Capital LLC bought a new stake in AbbVie during the second quarter worth $956,000. Moseley Investment Management Inc. grew its holdings in AbbVie by 7.4% during the second quarter. Moseley Investment Management Inc. now owns 12,196 shares of the company’s stock worth $1,643,000 after buying an additional 843 shares in the last quarter. Finally, HBW Advisory Services LLC grew its holdings in AbbVie by 13.2% during the second quarter. HBW Advisory Services LLC now owns 11,975 shares of the company’s stock worth $1,613,000 after buying an additional 1,400 shares in the last quarter. Institutional investors own 67.86% of the company’s stock.

AbbVie Stock Up 1.6 %

Shares of NYSE ABBV opened at $153.64 on Friday. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77. The business’s fifty day moving average price is $146.09 and its 200-day moving average price is $147.56. The stock has a market capitalization of $271.18 billion, a PE ratio of 31.61, a P/E/G ratio of 2.74 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.79 by $0.12. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. On average, equities research analysts anticipate that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $1.48 dividend. The ex-dividend date is Thursday, October 12th. This represents a $5.92 annualized dividend and a yield of 3.85%. AbbVie’s dividend payout ratio is currently 121.81%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABBV shares. Credit Suisse Group decreased their price target on AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Piper Sandler boosted their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Piper Jaffray Companies boosted their price objective on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. William Blair began coverage on AbbVie in a research report on Tuesday, July 25th. They issued a “market perform” rating on the stock. Finally, StockNews.com began coverage on AbbVie in a research report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.79.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the sale, the chief executive officer now owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.