10,592 Shares in AbbVie Inc. $ABBV Purchased by Bowman & Co S.C.

Key Points

• Bowman & Co S.C. acquired 10,592 shares of AbbVie Inc. for approximately $1,967,000, making AbbVie the 29th largest holding in their portfolio.
• Several hedge funds significantly increased their stakes in AbbVie, with TD Capital Management LLC boosting its stake by 82.9% in the first quarter.
• AbbVie recently announced a quarterly dividend of $1.64 per share, which will be paid on November 14th, reflecting a dividend yield of 3.0%.

Bowman & Co S.C. acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,592 shares of the company's stock, valued at approximately $1,967,000. AbbVie accounts for about 0.9% of Bowman & Co S.C.'s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in ABBV. TD Capital Management LLC lifted its stake in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC purchased a new stake in shares of AbbVie during the first quarter valued at about $30,000. Siemens Fonds Invest GmbH lifted its position in shares of AbbVie by 197.6% during the fourth 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 last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie during the first quarter valued at about $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. Wells Fargo & Company increased their price target on shares of AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley increased their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Thursday, August 7th. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $218.76.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $217.92 on Tuesday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $221.76. The company's 50 day moving average is $200.86 and its 200 day moving average is $194.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market cap of $384.97 billion, a PE ratio of 103.77, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis 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.

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