Nisa Investment Advisors LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Nisa Investment Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 548,616 shares of the company’s stock after acquiring an additional 31,753 shares during the period. AbbVie comprises 0.6% of Nisa Investment Advisors LLC’s holdings, making the stock its 22nd biggest position. Nisa Investment Advisors LLC’s holdings in AbbVie were worth $94,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at about $33,000. IFS Advisors LLC acquired a new position in AbbVie in the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie during the fourth quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in AbbVie in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction 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 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. BMO Capital Markets increased their price target on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.29.

AbbVie Stock Performance

NYSE ABBV traded up $2.74 during trading on Monday, reaching $196.64. The company’s stock had a trading volume of 2,615,370 shares, compared to its average volume of 5,517,415. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $197.18. The business’s fifty day moving average price is $176.05 and its 200-day moving average price is $172.25. The firm has a market cap of $347.24 billion, a price-to-earnings ratio of 58.40, a P/E/G ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the business posted $2.91 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 10.87 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.