Measured Risk Portfolios Inc. Increases Stock Holdings in AbbVie Inc. $ABBV

Measured Risk Portfolios Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% during the second quarter, HoldingsChannel.com reports. The fund owned 11,049 shares of the company’s stock after purchasing an additional 294 shares during the quarter. AbbVie makes up 2.0% of Measured Risk Portfolios Inc.’s holdings, making the stock its 20th largest position. Measured Risk Portfolios Inc.’s holdings in AbbVie were worth $2,051,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the second quarter worth approximately $25,000. TD Capital Management LLC grew its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter worth approximately $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie during the first quarter worth approximately $35,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie during the first quarter worth approximately $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’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 approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. JPMorgan Chase & Co. increased their price target on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Evercore ISI increased their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Saturday, September 27th. Finally, Morgan Stanley increased their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.22.

AbbVie Price Performance

AbbVie stock opened at $234.07 on Friday. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The business has a fifty day moving average of $210.77 and a two-hundred day moving average of $195.90. The company has a market cap of $413.49 billion, a P/E ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is 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.