Edmonds Duncan Registered Investment Advisors LLC Has $267,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Edmonds Duncan Registered Investment Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,979 shares of the company’s stock after purchasing an additional 203 shares during the period. Edmonds Duncan Registered Investment Advisors LLC’s holdings in AbbVie were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Kalos Management Inc. bought a new position in shares of AbbVie during the first quarter valued at about $26,000. Boulder Wealth Advisors LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $31,000. Stone House Investment Management LLC purchased a new position in shares of AbbVie in the 1st quarter worth approximately $37,000. True Wealth Design LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $39,000. Finally, General Partner Inc. purchased a new stake in shares of AbbVie during the first quarter valued at approximately $40,000. 67.86% of the stock is owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $152.09 on Friday. The business has a 50-day simple moving average of $146.09 and a 200 day simple moving average of $147.56. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $168.11. The stock has a market cap of $268.45 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 2.74 and a beta of 0.58. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $5.92 annualized dividend and a yield of 3.89%. AbbVie’s dividend payout ratio (DPR) is presently 121.81%.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 18,500 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Credit Suisse Group cut their price objective on AbbVie from $170.00 to $160.00 in a research report on Wednesday, July 12th. Piper Sandler increased their price target on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TheStreet raised shares of AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. StockNews.com started coverage on shares of AbbVie in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, Piper Jaffray Companies lifted 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $165.79.

About AbbVie

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.