FSC Wealth Advisors LLC Buys 232 Shares of AbbVie Inc. (NYSE:ABBV)

Posted by Defense World Staff on Jul 2nd, 2023

FSC Wealth Advisors LLC grew its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,061 shares of the company’s stock after acquiring an additional 232 shares during the quarter. AbbVie accounts for 0.5% of FSC Wealth Advisors LLC’s holdings, making the stock its 13th biggest position. FSC Wealth Advisors LLC’s holdings in AbbVie were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AbbVie by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after acquiring an additional 2,442,663 shares during the last quarter. State Street Corp increased its stake in AbbVie by 0.5% during the 3rd quarter. State Street Corp now owns 77,486,317 shares of the company’s stock worth $10,399,439,000 after purchasing an additional 366,695 shares in the last quarter. Morgan Stanley increased its stake in AbbVie by 17.9% during the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after purchasing an additional 4,785,277 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Finally, Norges Bank bought a new stake in AbbVie during the 4th quarter worth approximately $3,033,348,000. 68.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABBV shares. Wells Fargo & Company lowered their target price on AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Guggenheim decreased their price target on shares of AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Barclays raised their price target on shares of AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Finally, StockNews.com initiated coverage on shares of AbbVie in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

Insider Activity

In other news, SVP Elaine K. Sorg sold 15,002 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.03, for a total value of $2,400,770.06. Following the completion of the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at $6,853,924.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Elaine K. Sorg sold 15,002 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.03, for a total value of $2,400,770.06. Following the completion of the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at $6,853,924.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.00, for a total value of $563,200.00. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,151 shares of company stock valued at $5,187,783. 0.26% of the stock is owned by company insiders.

AbbVie Trading Up 1.1 %

Shares of AbbVie stock opened at $134.73 on Friday. The business has a fifty day simple moving average of $142.20 and a two-hundred day simple moving average of $150.95. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $168.11. The company has a market capitalization of $237.70 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.42 and a beta of 0.58. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82.

AbbVie (NYSE:ABBV – Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.02. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The business had revenue of $12.23 billion during the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter last year, the firm posted $3.16 EPS. The company’s quarterly revenue was down 9.7% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 10.99 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.39%. The ex-dividend date is Thursday, July 13th. AbbVie’s payout ratio is 139.95%.

AbbVie Profile

(Free Report)

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.