jvl associates llc buys 1,101 shares of AbbVie Inc. (NYSE:ABBV)

VaselineOctober 5, 2024

0 4 minutes read

jvl associates llc purchased a new position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) during the third quarter, Holdings Channel.com reports. The fund acquired 1,101 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds have also made changes to their positions in the stock. West Coast Financial LLC boosted its holdings in AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares in the last quarter. FCG Investment Co bought a new position in AbbVie in the first quarter valued at $1,413,000. Safeguard Financial LLC bought a new stake in AbbVie in the first quarter worth about $235,000. BluePath Capital Management LLC boosted its holdings in shares of AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after purchasing an additional 67 shares during the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $87,000. Institutional investors own 70.23% of the company’s shares.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The trade was a 0.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s shares.

AbbVie stock fell 0.6%

Want more great investment ideas?

ABBV traded down $1.16 during trading on Friday, reaching $194.29. 4,749,637 shares of the stock traded hands, compared to its average volume of 5,336,546. AbbVie Inc. it has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The stock’s 50-day simple moving average is $193.17, and its two-hundred-day simple moving average is $176.74. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81, and a quick ratio of 0.71. The stock has a market cap of $343.09 billion, a price-to-earnings ratio of 57.56, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue increased by 4.3% year-on-year. In the same quarter last year, the company posted earnings of $2.91 per share. As a group, equities research analysts expect that AbbVie Inc. to record 10.86 EPS for the current year.

AbbVie announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents an annualized dividend of $6.20 and a yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Analysts on Wall Street are forecasting an increase

A number of brokerages have recently issued reports on ABBV. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley boosted their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, Piper Sandler raised their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $191.64, according to MarketBeat.

Read the latest stock report on AbbVie

AbbVie profile

(Free report)

AbbVie Inc discovers, develops, manufactures and sells pharmaceutical products worldwide. The company offers Humira, an injection for Behçet’s autoimmune and intestinal diseases and pyoderma gangrenosum; Skyrizi for the treatment of 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 cancer; Epkinly for treating lymphoma; Elahere for treating cancer; and Venclexta/Venclyxto to treat blood cancers.