Hall Capital Management Co. Inc. Boosts Stake in AbbVie Inc. $ABBV

Hall Capital Management Co. Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 16,134 shares of the company’s stock after acquiring an additional 149 shares during the period. AbbVie comprises about 1.3% of Hall Capital Management Co. Inc.’s holdings, making the stock its 26th largest holding. Hall Capital Management Co. Inc.’s holdings in AbbVie were worth $2,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $25,000. TD Capital Management LLC boosted its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the 1st quarter worth approximately $35,000. Finally, Bear Mountain Capital Inc. boosted its position in shares of AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.4%

AbbVie stock opened at $233.42 on Wednesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a market cap of $412.35 billion, a P/E ratio of 111.15, a P/E/G ratio of 1.35 and a beta of 0.51. 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 business has a 50-day simple moving average of $212.45 and a two-hundred day simple moving average of $196.19.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during 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%.AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.65 EPS. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. UBS Group set a $251.00 target price on AbbVie in a research note on Friday. Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. HSBC set a $225.00 price target on AbbVie in a report on Thursday, October 2nd. Finally, Piper Sandler started coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 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 $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.