TPG Advisors LLC Buys Shares of 2,131 AbbVie Inc. (NYSE:ABBV)

TPG Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,131 shares of the company’s stock, valued at approximately $366,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the 2nd quarter worth $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the fourth quarter worth $26,000. IFS Advisors LLC purchased a new stake in AbbVie during the first quarter valued at about $36,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the first quarter valued at about $37,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 in the company, valued at approximately $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly 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 owned by corporate insiders.

AbbVie Trading Down 0.1 %

Shares of NYSE:ABBV opened at $193.46 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a market cap of $341.62 billion, a P/E ratio of 57.41, a PEG ratio of 2.66 and a beta of 0.64. The stock’s fifty day moving average price is $189.35 and its 200-day moving average price is $175.82.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 EPS. Sell-side analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Truist Financial reissued a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler raised their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Buy” and a consensus price target of $191.64.

AbbVie Company 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.