Lion Street Advisors LLC Increases Stock Holdings in AbbVie Inc. $ABBV

Lion Street Advisors LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 13.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,659 shares of the company’s stock after acquiring an additional 1,052 shares during the quarter. Lion Street Advisors LLC’s holdings in AbbVie were worth $1,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA purchased a new stake in AbbVie in the second quarter worth $25,000. TD Capital Management LLC lifted its stake in AbbVie by 82.9% in 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 period. Abound Financial LLC purchased a new stake in AbbVie in the first quarter worth $30,000. Cypress Capital Management LLC WY purchased a new stake in AbbVie in the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. lifted its stake in AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was 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 in the company, 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 can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABBV. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley raised their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Piper Sandler raised their price objective on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $230.88 on Monday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business has a fifty day moving average price of $214.84 and a 200-day moving average price of $196.71. The company has a market capitalization of $407.86 billion, a PE ratio of 109.94, a PEG ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $2.65 earnings per share. AbbVie’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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