Hoese & Co LLP boosted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 180.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,244 shares of the company’s stock after purchasing an additional 800 shares during the period. Hoese & Co LLP’s holdings in AbbVie were worth $231,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TD Capital Management LLC increased its position in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in AbbVie in the 2nd quarter valued at approximately $25,000. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie in the 1st quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie in the 1st quarter valued at approximately $42,000. Institutional investors own 70.23% of the company’s stock.
Insiders Place Their Bets
In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Analysis on AbbVie
AbbVie Trading Up 1.2%
NYSE:ABBV opened at $229.66 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $405.71 billion, a price-to-earnings ratio of 109.36, a PEG ratio of 1.41 and a beta of 0.51. The firm has a fifty day simple moving average of $217.91 and a two-hundred day simple moving average of $197.60. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.
About AbbVie
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.
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