Boyd Watterson Asset Management LLC OH Has $4.49 Million Holdings in AbbVie Inc. $ABBV

by · The Cerbat Gem

Boyd Watterson Asset Management LLC OH reduced its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,162 shares of the company’s stock after selling 2,147 shares during the quarter. AbbVie accounts for approximately 1.4% of Boyd Watterson Asset Management LLC OH’s holdings, making the stock its 18th biggest position. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $4,485,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC increased its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC bought a new stake in AbbVie in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the 1st quarter valued at $35,000. Finally, Bear Mountain Capital Inc. increased its holdings in AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after buying an additional 173 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. Wall Street Zen raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI boosted their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Daiwa Capital Markets raised shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Finally, Citigroup reissued a “neutral” rating on shares of AbbVie in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

View Our Latest Report on ABBV

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was 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 directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Down 0.0%

Shares of NYSE:ABBV opened at $227.98 on Tuesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week 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 company’s fifty day moving average is $221.13 and its 200-day moving average is $199.58. The company has a market capitalization of $402.73 billion, a PE ratio of 108.56, a P/E/G ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 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 firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

AbbVie Profile

(Free Report)

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.

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