AbbVie Inc. (NYSE:ABBV) Shares Acquired by Columbia Asset Management

Columbia Asset Management increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the second quarter, HoldingsChannel reports. The fund owned 40,537 shares of the company’s stock after buying an additional 172 shares during the period. AbbVie comprises approximately 1.3% of Columbia Asset Management’s investment portfolio, making the stock its 20th biggest holding. Columbia Asset Management’s holdings in AbbVie were worth $6,953,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American National Bank grew its holdings in shares of AbbVie by 4.8% in the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC grew its holdings in AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the last quarter. Mizuho Markets Americas LLC increased its position in shares of AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares in the last quarter. West Coast Financial LLC increased its position in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after buying an additional 140 shares in the last quarter. Finally, FCG Investment Co acquired a new stake in AbbVie in the 1st quarter valued at about $1,413,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 2.2 %

Shares of NYSE:ABBV opened at $192.71 on Friday. The stock has a 50-day simple moving average of $183.44 and a 200-day simple moving average of $174.50. The stock has a market capitalization of $340.30 billion, a P/E ratio of 57.18, a PEG ratio of 2.68 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 debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm earned $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Buy” and a consensus price target of $191.64.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated 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 sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.