AbbVie Inc. $ABBV Stock Position Increased by ST Germain D J Co. Inc.

Key Points

• ST Germain D J Co. Inc. increased its position in AbbVie by 2.0%, owning 68,019 shares worth approximately $12.6 million after purchasing an additional 1,315 shares in Q2.
• Several large investors have recently adjusted their positions in AbbVie, with institutional investors now holding 70.23% of the company's stock.
• Wall Street analysts have given AbbVie a consensus rating of "Moderate Buy" with an average target price of $223.45, reflecting a positive outlook for the company.

ST Germain D J Co. Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,019 shares of the company's stock after purchasing an additional 1,315 shares during the period. ST Germain D J Co. Inc.'s holdings in AbbVie were worth $12,626,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ABBV. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie in the second quarter worth $25,000. TD Capital Management LLC lifted its holdings 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 purchasing an additional 58 shares during the period. Abound Financial LLC bought a new position in AbbVie in the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH grew its position in AbbVie by 197.6% in 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 in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target for the company. BMO Capital Markets upped their target price on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Guggenheim lifted their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Cantor Fitzgerald boosted their price objective on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Finally, Berenberg Bank raised AbbVie from a "hold" rating to a "buy" rating and raised their target price for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $223.45.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $218.23 on Friday. The stock's fifty day simple moving average is $205.61 and its 200 day simple moving average is $195.22. The stock has a market capitalization of $385.52 billion, a price-to-earnings ratio of 103.92, a PEG ratio of 1.31 and a beta of 0.53. 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 $225.16.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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). 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 analysts' expectations of $14.93 billion. During the same period in the prior year, the company earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Insider Activity at AbbVie

In other news, 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 transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company'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 sale, the executive vice president 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

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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