Crew Capital Management Ltd. Purchases 4,424 Shares of AbbVie Inc. $ABBV

Crew Capital Management Ltd. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 125.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,960 shares of the company’s stock after purchasing an additional 4,424 shares during the period. AbbVie accounts for 1.1% of Crew Capital Management Ltd.’s portfolio, making the stock its 23rd largest holding. Crew Capital Management Ltd.’s holdings in AbbVie were worth $1,477,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at $122,000. United Advisor Group LLC boosted its position in AbbVie by 2.1% during the fourth quarter. United Advisor Group LLC now owns 4,472 shares of the company’s stock worth $795,000 after purchasing an additional 90 shares during the period. Finally, Garde Capital Inc. increased its holdings in shares of AbbVie by 17.6% in the fourth quarter. Garde Capital Inc. now owns 1,335 shares of the company’s stock valued at $237,000 after purchasing an additional 200 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $223.09 on Tuesday. The stock has a 50-day moving average price of $203.75 and a two-hundred day moving average price of $194.84. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $225.16. The company has a market capitalization of $394.09 billion, a PE ratio of 106.23, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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). 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 business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 EPS. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and upped their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Piper Sandler initiated coverage on AbbVie in a report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price target for the company. Finally, Guggenheim boosted their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Four equities 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $223.45.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.