Greenup Street Wealth Management LLC Has $306,000 Stock Holdings in AbbVie Inc. $ABBV

Greenup Street Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,647 shares of the company’s stock after purchasing an additional 118 shares during the period. Greenup Street Wealth Management LLC’s holdings in AbbVie were worth $306,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jackson Thornton Wealth Management LLC lifted its position in AbbVie by 6.0% in the second quarter. Jackson Thornton Wealth Management LLC now owns 1,455 shares of the company’s stock worth $276,000 after purchasing an additional 82 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in AbbVie by 1.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 102,505 shares of the company’s stock worth $19,027,000 after acquiring an additional 973 shares in the last quarter. Whittier Trust Co. increased its stake in shares of AbbVie by 4.0% in the second quarter. Whittier Trust Co. now owns 237,030 shares of the company’s stock valued at $43,997,000 after buying an additional 9,073 shares in the last quarter. Divergent Planning LLC acquired a new stake in shares of AbbVie in the second quarter valued at $744,000. Finally, apricus wealth LLC increased its stake in shares of AbbVie by 2.9% in the second quarter. apricus wealth LLC now owns 20,569 shares of the company’s stock valued at $3,818,000 after buying an additional 589 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $232.07 on Tuesday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market capitalization of $409.97 billion, a price-to-earnings ratio of 110.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The business has a 50-day moving average of $218.58 and a 200-day moving average of $197.84.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate 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 firm posted $2.65 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. HSBC set a $225.00 price target on AbbVie in a research report on Thursday, October 2nd. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

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.