Schubert & Co Raises Stake in AbbVie Inc. $ABBV

Schubert & Co boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 17.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,353 shares of the company’s stock after purchasing an additional 205 shares during the period. Schubert & Co’s holdings in AbbVie were worth $251,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Capital Management LLC boosted 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 acquiring an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie in the second quarter valued at about $25,000. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter valued at about $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the first quarter valued at about $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in AbbVie during the first quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America boosted their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Berenberg Bank raised shares of 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. Cantor Fitzgerald set a $250.00 price objective on shares of AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Two research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.05.

AbbVie Stock Performance

Shares of ABBV opened at $229.66 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a market cap of $405.71 billion, a P/E ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51. The company has a 50-day moving average of $217.91 and a two-hundred day moving average of $197.55. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

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.