Capital Advisors Wealth Management LLC Has $1.66 Million Position in AbbVie Inc. (NYSE:ABBV)

Capital Advisors Wealth Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,308 shares of the company’s stock after buying an additional 514 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in AbbVie were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Retirement Income Solutions Inc bought a new position in shares of AbbVie in the first quarter valued at approximately $204,000. Ergoteles LLC lifted its stake in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank purchased a new position in AbbVie in the first quarter valued at approximately $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie in the first quarter valued at approximately $562,000. Finally, Bridgewater Associates LP lifted its position in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after acquiring an additional 33,661 shares in the last quarter. 67.86% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $153.93 on Tuesday. The firm has a 50 day moving average price of $146.42 and a 200-day moving average price of $147.44. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $168.11. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.79 and a beta of 0.58. The company has a debt-to-equity ratio of 4.33, a quick ratio of 0.77 and a current ratio of 0.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.12. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. Equities research analysts forecast that AbbVie Inc. will post 11.03 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared 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 dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 121.81%.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of 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 available at the SEC website. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.