Hall Capital Management Co. Inc. Acquires 149 Shares of AbbVie Inc. $ABBV

Hall Capital Management Co. Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,134 shares of the company’s stock after purchasing an additional 149 shares during the period. AbbVie comprises about 1.3% of Hall Capital Management Co. Inc.’s holdings, making the stock its 26th largest holding. Hall Capital Management Co. Inc.’s holdings in AbbVie were worth $2,995,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new stake in AbbVie during the second quarter worth about $25,000. TD Capital Management LLC lifted its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter worth about $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter worth about $35,000. Finally, Bear Mountain Capital Inc. lifted its stake in AbbVie by 480.6% during the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company’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 transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing 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 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 transaction, the executive vice president 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. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 1.4%

Shares of NYSE:ABBV opened at $233.42 on Wednesday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The company has a market cap of $412.35 billion, a PE ratio of 111.15, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock’s 50-day moving average is $212.45 and its 200 day moving average is $196.19.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) 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 business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared 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. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABBV. Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Guggenheim lifted 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. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Thursday, August 7th. UBS Group set a $251.00 price objective on AbbVie in a report on Friday. Finally, HSBC set a $225.00 price objective on AbbVie in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.14.

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.