Hartline Investment Corp Has $1.82 Million Holdings in AbbVie Inc. $ABBV

Hartline Investment Corp boosted its position in AbbVie Inc. (NYSE:ABBV) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,826 shares of the company’s stock after buying an additional 1,128 shares during the quarter. Hartline Investment Corp’s holdings in AbbVie were worth $1,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in AbbVie by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after purchasing an additional 845,787 shares during the last quarter. Northern Trust Corp grew its position in AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after purchasing an additional 189,294 shares during the last quarter. Goldman Sachs Group Inc. grew its position in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after purchasing an additional 713,148 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in AbbVie by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock worth $1,972,050,000 after purchasing an additional 45,871 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.2%

Shares of ABBV stock opened at $229.66 on Friday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a market capitalization of $405.71 billion, a P/E ratio of 109.36, a P/E/G ratio of 1.41 and a beta of 0.51. The firm has a 50-day moving average price of $217.91 and a 200 day moving average price of $197.60. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Raymond James Financial restated an “outperform” rating and issued a $250.00 price target (up from $236.00) on shares of AbbVie in a research report on Friday. Morgan Stanley raised their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Erste Group Bank lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.05.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated 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 $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% 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.