Hoese & Co LLP Has $231,000 Position in AbbVie Inc. $ABBV

Hoese & Co LLP grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 180.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,244 shares of the company’s stock after buying an additional 800 shares during the period. Hoese & Co LLP’s holdings in AbbVie were worth $231,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Foster & Motley Inc. increased its holdings in shares of AbbVie by 1.1% during the second quarter. Foster & Motley Inc. now owns 58,311 shares of the company’s stock worth $10,824,000 after buying an additional 619 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in shares of AbbVie by 36.5% during the second quarter. Huntleigh Advisors Inc. now owns 12,381 shares of the company’s stock valued at $2,298,000 after purchasing an additional 3,313 shares during the last quarter. Kanawha Capital Management LLC grew its stake in shares of AbbVie by 0.3% during the second quarter. Kanawha Capital Management LLC now owns 144,470 shares of the company’s stock valued at $26,817,000 after purchasing an additional 465 shares during the last quarter. Hartline Investment Corp boosted its stake in AbbVie by 13.0% in the second quarter. Hartline Investment Corp now owns 9,826 shares of the company’s stock valued at $1,824,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in AbbVie by 0.5% in the second quarter. Chevy Chase Trust Holdings LLC now owns 962,268 shares of the company’s stock valued at $178,616,000 after acquiring an additional 4,990 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was 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 insiders.

AbbVie Price Performance

NYSE:ABBV opened at $229.66 on Friday. 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 stock’s 50-day simple moving average is $217.91 and its 200 day simple moving average is $197.60. The company has a market cap of $405.71 billion, a P/E ratio of 109.36, a P/E/G ratio of 1.41 and a beta of 0.51. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV) last released 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 analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 2.9%. AbbVie’s payout ratio is currently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, October 8th. Citigroup restated a “neutral” rating on shares of AbbVie in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Evercore ISI raised their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.05.

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.