AbbVie Inc. (NYSE:ABBV) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,166,215 shares of the company’s stock after purchasing an additional 28,273 shares during the period. Blair William & Co. IL owned about 0.07% of AbbVie worth $200,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zega Financial LLC acquired a new stake in AbbVie in the second quarter valued at $750,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of AbbVie by 10.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 165,870 shares of the company’s stock valued at $28,044,000 after acquiring an additional 15,302 shares during the last quarter. Tredje AP fonden raised its position in shares of AbbVie by 31.4% during the 2nd quarter. Tredje AP fonden now owns 714,230 shares of the company’s stock worth $122,505,000 after acquiring an additional 170,500 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in AbbVie by 8.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 189,255 shares of the company’s stock worth $32,461,000 after purchasing an additional 14,220 shares during the last quarter. Finally, Argent Trust Co lifted its stake in AbbVie by 0.9% during the second quarter. Argent Trust Co now owns 204,172 shares of the company’s stock worth $35,020,000 after purchasing an additional 1,882 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ABBV shares. Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Finally, Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Buy” and a consensus target price of $191.64.

AbbVie Trading Down 1.1 %

Shares of ABBV stock opened at $193.50 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $341.70 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The business’s 50 day moving average is $187.92 and its two-hundred day moving average is $175.46. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the business earned $2.91 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

AbbVie 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.