AbbVie Inc. $ABBV Position Increased by Hartline Investment Corp

by · The Markets Daily

Hartline Investment Corp raised its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 13.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,826 shares of the company’s stock after buying an additional 1,128 shares during the period. Hartline Investment Corp’s holdings in AbbVie were worth $1,824,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. FF Advisors LLC lifted its position in shares of AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after acquiring an additional 53 shares in the last quarter. Private Management Group Inc. lifted its position in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after acquiring an additional 54 shares in the last quarter. LifeSteps Financial Inc. lifted its position in shares of AbbVie by 0.7% in the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners lifted its position in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors lifted its position in shares of AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after acquiring an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on Tuesday, August 5th. The shares were 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 $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2%

AbbVie stock opened at $229.66 on Friday. The firm has a market cap of $405.71 billion, a PE ratio of 109.36, a P/E/G ratio of 1.41 and a beta of 0.51. 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 firm’s 50 day moving average price is $217.91 and its two-hundred day moving average price is $197.60. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the company earned $2.65 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Citigroup restated a “neutral” rating on shares of AbbVie in a research report on Monday. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $234.05.

Get Our Latest Analysis on AbbVie

AbbVie Company 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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