Plancorp LLC Grows Position in AbbVie Inc. $ABBV

Plancorp LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,105 shares of the company’s stock after buying an additional 340 shares during the quarter. Plancorp LLC’s holdings in AbbVie were worth $3,361,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ABBV. Marshall & Sullivan Inc. WA purchased a new stake in shares of AbbVie during the 2nd quarter valued at about $25,000. TD Capital Management LLC raised its holdings 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 buying an additional 58 shares during the period. Abound Financial LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH raised its holdings in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the 1st quarter valued at about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABBV. Piper Sandler began coverage on AbbVie in a report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price on the stock. Wells Fargo & Company lifted their price objective on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Evercore ISI lifted their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $223.45.

AbbVie Price Performance

Shares of ABBV opened at $220.11 on Thursday. The firm has a market cap of $388.84 billion, a price-to-earnings ratio of 104.81, a PEG ratio of 1.33 and a beta of 0.53. The stock has a 50 day moving average of $205.07 and a 200-day moving average of $195.21. 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 Inc. has a 52 week low of $163.81 and a 52 week high of $225.16.

AbbVie (NYSE:ABBV) 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 return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

AbbVie Profile

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.