Leelyn Smith LLC Purchases 299 Shares of AbbVie Inc. $ABBV

Leelyn Smith LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,206 shares of the company’s stock after acquiring an additional 299 shares during the quarter. Leelyn Smith LLC’s holdings in AbbVie were worth $3,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. TD Capital Management LLC lifted its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie in the second quarter valued at approximately $25,000. Abound Financial LLC bought a new position in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. increased its position in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $228.06 on Friday. The stock has a market cap of $402.87 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a fifty day moving average of $220.69 and a 200-day moving average of $198.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period last year, the firm earned $2.65 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. 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 payout ratio is currently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Friday. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and issued a $250.00 target price (up from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Finally, UBS Group set a $251.00 target price on AbbVie in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.