Quad Cities Investment Group LLC Increases Position in AbbVie Inc. $ABBV

Quad Cities Investment Group LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the second quarter, HoldingsChannel.com reports. The firm owned 4,133 shares of the company’s stock after purchasing an additional 73 shares during the quarter. Quad Cities Investment Group LLC’s holdings in AbbVie were worth $767,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new position in AbbVie during the second quarter valued at $25,000. TD Capital Management LLC grew its stake in 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 acquiring an additional 58 shares in the last quarter. Abound Financial LLC purchased a new position in AbbVie during the first quarter valued at $30,000. Siemens Fonds Invest GmbH grew its stake in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY purchased a new position in AbbVie during the first quarter valued at $35,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s 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. This represents 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 Up 0.1%

Shares of ABBV opened at $222.29 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $223.49. The company has a 50-day moving average of $203.12 and a 200 day moving average of $194.89. The firm has a market capitalization of $392.69 billion, a price-to-earnings ratio of 105.85, a PEG ratio of 1.33 and a beta of 0.53. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Cantor Fitzgerald raised their target price on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Bank of America raised their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.68.

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.