AbbVie Inc. $ABBV Stock Holdings Raised by Delta Capital Management LLC

Key Points

• Delta Capital Management LLC significantly increased its holdings in AbbVie Inc. by 103.6% during the second quarter, now owning 19,020 shares valued at approximately $3.53 million.
• Several large investors, including Marshall & Sullivan Inc. and TD Capital Management LLC, also acquired stakes in AbbVie in recent quarters, reflecting growing institutional interest with institutional ownership now at 70.23%.
• Analysts have raised their price targets for AbbVie, with Cantor Fitzgerald increasing its target from $215 to $245 and a consensus rating of "Moderate Buy" with a target of $223.45.

Delta Capital Management LLC increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 103.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,020 shares of the company's stock after purchasing an additional 9,680 shares during the period. AbbVie accounts for about 1.3% of Delta Capital Management LLC's investment portfolio, making the stock its 20th biggest holding. Delta Capital Management LLC's holdings in AbbVie were worth $3,530,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the 2nd quarter valued at approximately $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 during the period. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at about $42,000. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald raised their target price on shares of AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Guggenheim increased their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Bank of America upped their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.45.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

AbbVie Trading Up 1.0%

Shares of ABBV stock opened at $220.75 on Monday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16. The stock has a fifty day moving average of $206.24 and a two-hundred day moving average of $195.04. The firm has a market capitalization of $389.97 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued 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 312.38%.

About AbbVie

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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