AbbVie Inc. (NYSE:ABBV) Holdings Boosted by Excalibur Management Corp

Excalibur Management Corp raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,057 shares of the company’s stock after acquiring an additional 155 shares during the period. AbbVie accounts for 1.0% of Excalibur Management Corp’s investment portfolio, making the stock its 23rd biggest position. Excalibur Management Corp’s holdings in AbbVie were worth $2,411,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the second quarter valued at about $27,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at about $36,000. Finally, Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $195.78 on Tuesday. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The firm has a market capitalization of $345.72 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 2.66 and a beta of 0.64. 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 business has a fifty day simple moving average of $187.41 and a 200 day simple moving average of $175.36.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.91 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and a consensus price target of $191.64.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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 transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.