AbbVie Inc. $ABBV Holdings Raised by Grimes & Company Inc.

Grimes & Company Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,278 shares of the company’s stock after purchasing an additional 2,172 shares during the period. Grimes & Company Inc.’s holdings in AbbVie were worth $19,542,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FF Advisors LLC grew its holdings in shares of AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after buying an additional 53 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in shares of AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after buying an additional 56 shares in the last quarter. Seneca House Advisors grew its holdings in shares of AbbVie by 2.7% during the second quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after buying an additional 56 shares in the last quarter. Finally, Castle Wealth Management LLC grew its holdings in shares of AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after buying an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $234.07 on Monday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The business has a 50-day moving average of $210.77 and a two-hundred day moving average of $195.79. The stock has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a P/E/G ratio of 1.37 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly 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 return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the firm earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business 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 $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 dividend yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. UBS Group set a $251.00 price target on AbbVie in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Saturday, September 27th. BMO Capital Markets boosted their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Citigroup boosted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Finally, Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $228.22.

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.