Frisch Financial Group Inc. Purchases 53 Shares of AbbVie Inc. (NYSE:ABBV)

Frisch Financial Group Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,920 shares of the company’s stock after acquiring an additional 53 shares during the period. Frisch Financial Group Inc.’s holdings in AbbVie were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AXS Investments LLC grew its stake in shares of AbbVie by 3.3% in the 4th 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 period. West Coast Financial LLC grew its stake in shares of AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares during the period. FCG Investment Co bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $1,413,000. Safeguard Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at approximately $235,000. Finally, BluePath Capital Management LLC grew its stake in shares of AbbVie by 0.9% in the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after purchasing an additional 67 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Barclays increased their price target on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company increased their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial restated a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Stock Performance

ABBV stock opened at $195.78 on Tuesday. The business’s fifty day moving average is $187.41 and its 200-day moving average is $175.36. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market cap of $345.72 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The company 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 firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 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.