Regatta Capital Group LLC Acquires 107 Shares of AbbVie Inc. $ABBV

Regatta Capital Group LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,468 shares of the company’s stock after purchasing an additional 107 shares during the period. Regatta Capital Group LLC’s holdings in AbbVie were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ABBV. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie during the 2nd quarter worth about $25,000. TD Capital Management LLC raised its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new stake in shares of AbbVie in the 1st quarter worth about $30,000. Siemens Fonds Invest GmbH raised its holdings in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter worth about $35,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Daiwa Capital Markets upgraded 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. Evercore ISI increased their price objective on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday. BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.45.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 approximately $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. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Down 1.1%

AbbVie stock opened at $220.11 on Thursday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $225.16. The firm has a 50 day moving average price of $205.07 and a 200-day moving average price of $195.21. The company has a market capitalization of $388.84 billion, a P/E ratio of 104.81, a P/E/G ratio of 1.33 and a beta of 0.53. 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 released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 company 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 company earned $2.65 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

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.