Jacobi Capital Management LLC Has $6.95 Million Stock Holdings in AbbVie Inc. $ABBV

Jacobi Capital Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,171 shares of the company’s stock after purchasing an additional 202 shares during the quarter. AbbVie comprises about 0.5% of Jacobi Capital Management LLC’s portfolio, making the stock its 29th biggest position. Jacobi Capital Management LLC’s holdings in AbbVie were worth $6,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of AbbVie by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after purchasing an additional 845,787 shares during the period. Northern Trust Corp increased its position in AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after buying an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. increased its position in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after buying an additional 713,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock valued at $2,142,832,000 after buying an additional 1,882,780 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABBV shares. Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Citigroup boosted their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Bank of America boosted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.95.

AbbVie Stock Performance

Shares of ABBV opened at $211.84 on Thursday. 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 has a 50 day moving average price of $199.06 and a two-hundred day moving average price of $194.37. The firm has a market capitalization of $374.23 billion, a P/E ratio of 100.88, a P/E/G ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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 3.1%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

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.