DMKC Advisory Services LLC Purchases 1,327 Shares of AbbVie Inc. $ABBV

DMKC Advisory Services LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 99.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,662 shares of the company’s stock after buying an additional 1,327 shares during the period. DMKC Advisory Services LLC’s holdings in AbbVie were worth $509,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. TD Capital Management LLC increased its position 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 during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $25,000. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the first quarter valued at $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 5.7%

AbbVie stock opened at $244.77 on Thursday. The company’s 50-day moving average price is $208.97 and its two-hundred day moving average price is $195.71. 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 cap of $432.40 billion, a P/E ratio of 116.56, a P/E/G ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $223.45.

Insiders Place Their Bets

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

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.