Jacobs & Co. CA Buys 1,211 Shares of AbbVie Inc. $ABBV

Jacobs & Co. CA increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,639 shares of the company’s stock after acquiring an additional 1,211 shares during the quarter. Jacobs & Co. CA’s holdings in AbbVie were worth $11,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. GAMMA Investing LLC grew its position in AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new position in AbbVie during the 1st quarter worth approximately $1,819,154,000. Goldman Sachs Group Inc. grew its position in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AbbVie by 18.5% during 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 worth $2,142,832,000 after acquiring an additional 1,882,780 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in AbbVie by 147.6% during the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock worth $576,800,000 after acquiring an additional 1,641,091 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. BMO Capital Markets increased their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Bank of America increased their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.10.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’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 completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.8%

ABBV opened at $218.40 on Friday. The stock has a market cap of $385.82 billion, a PE ratio of 104.00, a PEG ratio of 1.42 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business has a 50 day moving average of $200.25 and a 200-day moving average of $194.58. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $221.76.

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). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.65 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

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.