AbbVie Inc. $ABBV Shares Acquired by DMKC Advisory Services LLC

Key Points

• DMKC Advisory Services LLC significantly increased its holdings in AbbVie Inc. by 99.4% during the second quarter, owning 2,662 shares valued at approximately $509,000.
• Several hedge funds also adjusted their stakes in AbbVie, with institutional investors collectively holding 70.23% of the stock.
• AbbVie announced a quarterly dividend of $1.64 per share, with an upcoming payment date of November 14th, translating to a dividend yield of 2.7%.

DMKC Advisory Services LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 99.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,662 shares of the company's stock after purchasing an additional 1,327 shares during the quarter. DMKC Advisory Services LLC's holdings in AbbVie were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. FF Advisors LLC increased its stake in shares of AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock valued at $286,000 after buying an additional 53 shares in the last quarter. Private Management Group Inc. grew its holdings in AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after acquiring an additional 54 shares during the last quarter. Silicon Valley Capital Partners increased its position in 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. Seneca House Advisors raised its stake in shares of AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company's stock worth $388,000 after acquiring an additional 56 shares during the last quarter. Finally, Castle Wealth Management LLC raised its stake in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company'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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's 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 sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Guggenheim lifted their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price on the stock in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $223.45.

AbbVie Stock Up 5.7%

AbbVie stock opened at $244.77 on Thursday. The firm has a market capitalization of $432.40 billion, a price-to-earnings ratio of 116.56, a PEG ratio of 1.35 and a beta of 0.51. The company's 50 day simple moving average is $208.97 and its 200 day simple moving average is $195.71. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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 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 dividend yield of 2.7%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

AbbVie Company 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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