Wesbanco Bank Inc. Raises Stock Holdings in AbbVie Inc. $ABBV

Wesbanco Bank Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,751 shares of the company’s stock after purchasing an additional 12,180 shares during the quarter. Wesbanco Bank Inc.’s holdings in AbbVie were worth $17,588,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABBV. Brighton Jones LLC raised its stake in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the last quarter. Sentinus LLC raised its stake in shares of AbbVie by 1.5% during the fourth quarter. Sentinus LLC now owns 15,788 shares of the company’s stock worth $2,805,000 after purchasing an additional 239 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of AbbVie by 10.4% during the fourth quarter. Toronto Dominion Bank now owns 770,392 shares of the company’s stock worth $136,896,000 after purchasing an additional 72,515 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.8%

AbbVie stock opened at $218.40 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 firm has a market capitalization of $385.82 billion, a price-to-earnings ratio of 104.00, a price-to-earnings-growth ratio of 1.42 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The stock’s fifty day moving average is $200.25 and its two-hundred day moving average is $194.52.

AbbVie (NYSE:ABBV) last posted its 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). The firm 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%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.65 EPS. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 3.0%. AbbVie’s dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Thursday, August 7th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. BMO Capital Markets upped their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday. Guggenheim upped their price objective on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.10.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.