Fishman Jay A Ltd. MI Increases Stock Position in AbbVie Inc. $ABBV

Fishman Jay A Ltd. MI increased its stake in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 2nd quarter, Holdings Channel reports. The fund owned 69,672 shares of the company’s stock after buying an additional 460 shares during the quarter. AbbVie comprises about 1.2% of Fishman Jay A Ltd. MI’s holdings, making the stock its 19th largest position. Fishman Jay A Ltd. MI’s holdings in AbbVie were worth $12,933,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. First Hawaiian Bank lifted its position in AbbVie by 0.8% during the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares in the last quarter. Narus Financial Partners LLC lifted its position in shares of AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after purchasing an additional 401 shares during the period. Highland Capital Management LLC grew its position in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock worth $9,817,000 after buying an additional 2,792 shares during the last quarter. Weaver Capital Management LLC boosted its stake in AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock worth $1,727,000 after purchasing an additional 310 shares in the last quarter. Finally, North Star Asset Management Inc. raised its holdings in shares of AbbVie by 0.5% during the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company’s stock worth $33,800,000 after purchasing an additional 756 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly 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 SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. HSBC set a $225.00 price objective on AbbVie in a research note on Thursday. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Wells Fargo & Company upped their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, BMO Capital Markets lifted their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $228.22.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $234.07 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The stock’s fifty day simple moving average is $210.77 and its 200 day simple moving average is $195.79.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the firm posted $2.65 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 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.