Uhlmann Price Securities LLC Increases Stake in AbbVie Inc. $ABBV

Uhlmann Price Securities LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 5,130 shares of the company’s stock after buying an additional 116 shares during the period. Uhlmann Price Securities LLC’s holdings in AbbVie were worth $952,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ABBV. Marshall & Sullivan Inc. WA purchased a new position in AbbVie in the 2nd quarter worth approximately $25,000. TD Capital Management LLC increased its stake 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 buying an additional 58 shares during the period. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie during the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. increased its stake in shares of AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after buying an additional 173 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.2%

NYSE ABBV opened at $229.66 on Monday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The stock has a market cap of $405.71 billion, a P/E ratio of 109.36, a P/E/G ratio of 1.43 and a beta of 0.51. The stock’s fifty day moving average price is $217.91 and its 200-day moving average price is $197.52. 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 released its earnings results on Thursday, July 31st. The company reported $2.97 EPS 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 analysts’ expectations of $14.93 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, equities 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. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on 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 represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Evercore ISI boosted their target price on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. UBS Group set a $251.00 target price on AbbVie in a research note on Friday, October 3rd. Finally, Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Two 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, AbbVie has an average rating of “Moderate Buy” and a consensus target price 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.