Fishman Jay A Ltd. MI Has $12.93 Million Holdings in AbbVie Inc. $ABBV

Fishman Jay A Ltd. MI raised its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 69,672 shares of the company’s stock after acquiring an additional 460 shares during the period. AbbVie makes up about 1.2% of Fishman Jay A Ltd. MI’s holdings, making the stock its 19th largest position. Fishman Jay A Ltd. MI’s holdings in AbbVie were worth $12,933,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. PUREfi Wealth LLC raised its stake in shares of AbbVie by 17.7% in the second quarter. PUREfi Wealth LLC now owns 5,829 shares of the company’s stock valued at $1,082,000 after buying an additional 878 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of AbbVie by 3.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 85,910 shares of the company’s stock worth $15,947,000 after acquiring an additional 2,636 shares during the last quarter. DAVENPORT & Co LLC grew its position in AbbVie by 2.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 191,289 shares of the company’s stock worth $35,504,000 after acquiring an additional 4,968 shares during the last quarter. Grimes & Company Inc. grew its stake in shares of AbbVie by 2.1% in the second quarter. Grimes & Company Inc. now owns 105,278 shares of the company’s stock worth $19,542,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC bought a new position in AbbVie in the 2nd quarter worth $495,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. HSBC set a $225.00 price target on shares of AbbVie in a report on Thursday. Evercore ISI raised their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.22.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s 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 in the company, valued at $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 available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s 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 sale, 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 Stock Down 1.1%

ABBV stock opened at $234.07 on Monday. The company has a market capitalization of $413.49 billion, a P/E ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The firm has a 50 day simple moving average of $210.77 and a 200-day simple moving average of $195.79. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 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.