Anderson Hoagland & Co. Buys 60 Shares of AbbVie Inc. $ABBV

Anderson Hoagland & Co. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the second quarter, HoldingsChannel.com reports. The firm owned 2,494 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Anderson Hoagland & Co.’s holdings in AbbVie were worth $463,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC bought a new position in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in AbbVie in the 1st quarter worth about $35,000. Pinney & Scofield Inc. bought a new position in AbbVie in the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the 1st quarter worth about $42,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Bank of America upped their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Cantor Fitzgerald upped their target price on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research note on Thursday, August 7th. Finally, Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $222.68.

AbbVie Price Performance

ABBV opened at $221.93 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. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $222.07. The stock has a market capitalization of $392.05 billion, a PE ratio of 105.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.53. The stock’s 50 day moving average price is $202.52 and its 200-day moving average price is $194.91.

AbbVie (NYSE:ABBV) last announced its 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 return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the company posted $2.65 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’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 transaction, the executive vice president directly 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 filing with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 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 ownership of the stock. The disclosure for this sale can be found here. Company 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.