AbbVie Inc. $ABBV Stock Holdings Increased by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,863 shares of the company’s stock after purchasing an additional 167 shares during the quarter. Pinion Investment Advisors LLC’s holdings in AbbVie were worth $903,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. TD Capital Management LLC grew its holdings in shares of 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 buying an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the second quarter valued at $25,000. Abound Financial LLC purchased a new position in shares of AbbVie during the first quarter valued at $30,000. Cypress Capital Management LLC WY purchased a new position in shares of AbbVie during the first quarter valued at $35,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of AbbVie during the first quarter valued at $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. HSBC set a $225.00 target price on AbbVie in a research note on Thursday, October 2nd. BMO Capital Markets boosted their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Evercore ISI boosted their target price on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Piper Sandler assumed coverage on AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.38.

AbbVie Price Performance

NYSE ABBV opened at $231.03 on Friday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. 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 market capitalization of $408.13 billion, a PE ratio of 110.01, a P/E/G ratio of 1.35 and a beta of 0.51. The stock has a 50-day simple moving average of $214.12 and a 200 day simple moving average of $196.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at $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 available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.