Buckley Wealth Management LLC Acquires 148 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Buckley Wealth Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,502 shares of the company’s stock after buying an additional 148 shares during the quarter. AbbVie makes up 1.0% of Buckley Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Buckley Wealth Management LLC’s holdings in AbbVie were worth $3,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. West Coast Financial LLC lifted its holdings in AbbVie by 9.7% during the 1st 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 about $1,413,000. BluePath Capital Management LLC increased its position in 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 period. Palisade Asset Management LLC raised its holdings in AbbVie by 65.6% during the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after purchasing an additional 38,562 shares during the last quarter. Finally, First Hawaiian Bank lifted its position in AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABBV shares. TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price target on the stock. Wells Fargo & Company increased their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

Get Our Latest Report on ABBV

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 0.2 %

Shares of ABBV stock traded up $0.29 on Friday, hitting $188.86. 5,607,902 shares of the stock were exchanged, compared to its average volume of 5,301,312. The business has a 50-day moving average of $194.44 and a 200 day moving average of $177.74. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The firm has a market capitalization of $333.50 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.91 EPS. Equities analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.28%. AbbVie’s dividend payout ratio is 183.98%.

AbbVie Profile

(Free Report)

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.

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