AbbVie Inc. (NYSE:ABBV) is Tsfg LLC’s 2nd Largest Position

Tsfg LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 124,641 shares of the company’s stock after acquiring an additional 932 shares during the quarter. AbbVie comprises 6.3% of Tsfg LLC’s investment portfolio, making the stock its 2nd largest holding. Tsfg LLC’s holdings in AbbVie were worth $16,793,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Fragasso Group Inc. increased its holdings in AbbVie by 2.3% in the 2nd quarter. Fragasso Group Inc. now owns 11,965 shares of the company’s stock worth $1,612,000 after acquiring an additional 271 shares during the last quarter. Signature Wealth Management Group increased its holdings in AbbVie by 1.7% in the 2nd quarter. Signature Wealth Management Group now owns 28,961 shares of the company’s stock worth $3,902,000 after acquiring an additional 485 shares during the last quarter. Outlook Wealth Advisors LLC purchased a new stake in AbbVie in the 2nd quarter worth about $211,000. Appleton Partners Inc. MA increased its holdings in AbbVie by 2.5% in the 2nd quarter. Appleton Partners Inc. MA now owns 46,216 shares of the company’s stock worth $6,227,000 after acquiring an additional 1,106 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its stake in AbbVie by 23.8% in the 2nd quarter. OneAscent Financial Services LLC now owns 4,839 shares of the company’s stock worth $652,000 after purchasing an additional 929 shares during the period. Hedge funds and other institutional investors own 67.86% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $152.12 on Friday. The business has a 50 day moving average of $146.42 and a 200 day moving average of $147.50. The company has a market capitalization of $268.50 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.74 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77.

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

AbbVie Dividend Announcement

The company 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 is Thursday, October 12th. This represents a $5.92 dividend on an annualized basis and a yield of 3.89%. AbbVie’s payout ratio is 121.81%.

Analysts Set New Price Targets

Several research analysts have commented on ABBV shares. Piper Jaffray Companies raised their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com started coverage on AbbVie in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Piper Sandler raised their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. William Blair started coverage on AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating for the company. Finally, HSBC initiated coverage on AbbVie in a research note on Friday, July 14th. They issued a “buy” rating and a $167.00 target price for the company. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $165.79.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

AbbVie Company Profile

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.