Hudson Edge Investment Partners Inc. Increases Stock Position in AbbVie Inc. $ABBV

Hudson Edge Investment Partners Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,507 shares of the company’s stock after purchasing an additional 4,235 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in AbbVie were worth $6,405,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares during the last quarter. Northern Trust Corp raised its stake in AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after acquiring an additional 189,294 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AbbVie by 5.9% during 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 acquiring an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after purchasing an additional 45,871 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABBV shares. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Bank of America raised their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a report on Thursday, August 7th. Morgan Stanley upped their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and increased their price target for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $223.52.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction 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 on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $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 owned by insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $236.98 on Friday. The business’s fifty day moving average price is $209.90 and its 200 day moving average price is $195.87. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. 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 capitalization of $418.63 billion, a P/E ratio of 112.85, a PEG ratio of 1.43 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

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.