Whittier Trust Co. Boosts Stock Holdings in AbbVie Inc. $ABBV

Whittier Trust Co. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the second quarter, HoldingsChannel reports. The firm owned 237,030 shares of the company’s stock after purchasing an additional 9,073 shares during the period. Whittier Trust Co.’s holdings in AbbVie were worth $43,997,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie in the 2nd quarter valued at about $25,000. TD Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. boosted its holdings in shares of 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 in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, 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. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Up 1.1%

ABBV stock opened at $232.07 on Tuesday. The firm has a 50 day moving average of $218.58 and a 200 day moving average of $197.84. The stock has a market capitalization of $409.97 billion, a PE ratio of 110.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 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 $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Wall Street Zen cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $234.80.

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.