Buckley Wealth Management LLC Sells 3,414 Shares of AbbVie Inc. (NYSE:ABBV)

Buckley Wealth Management LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,109 shares of the company’s stock after selling 3,414 shares during the quarter. AbbVie accounts for about 0.7% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Buckley Wealth Management LLC’s holdings in AbbVie were worth $2,170,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Kalos Management Inc. bought a new stake in AbbVie during the first quarter worth about $26,000. Boulder Wealth Advisors LLC purchased a new position in shares of AbbVie during the fourth quarter worth approximately $31,000. Stone House Investment Management LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at $37,000. True Wealth Design LLC purchased a new position in AbbVie in the 4th quarter worth $39,000. Finally, General Partner Inc. purchased a new stake in AbbVie during the first quarter valued at about $40,000. Institutional investors own 67.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Jaffray Companies increased their target price on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Credit Suisse Group dropped their target price on shares of AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. HSBC started coverage on AbbVie in a research report on Friday, July 14th. They set a “buy” rating and a $167.00 price target for the company. StockNews.com began coverage on shares of AbbVie in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Finally, William Blair started coverage on shares of AbbVie in a research report on Tuesday, July 25th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.

Insider Activity

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 sale, the chief executive officer now owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

AbbVie Trading Up 1.2 %

AbbVie stock opened at $153.93 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58. The firm has a 50 day moving average of $146.42 and a 200 day moving average of $147.44.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.79 by $0.12. The business had revenue of $13.87 billion for 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%. As a group, research analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 121.81%.

AbbVie 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.