Blair William & Co. IL Has $233.40 Million Stake in AbbVie Inc. $ABBV

Blair William & Co. IL raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,257,412 shares of the company's stock after purchasing an additional 14,307 shares during the quarter. Blair William & Co. IL owned 0.07% of AbbVie worth $233,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ABBV. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in AbbVie in the 1st quarter valued at about $5,224,000. GAMMA Investing LLC lifted its position in shares of AbbVie by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company's stock worth $10,235,000 after buying an additional 9,395 shares in the last quarter. Finally, Trueblood Wealth Management LLC boosted its stake in shares of AbbVie by 3.1% in the 1st quarter. Trueblood Wealth Management LLC now owns 6,306 shares of the company's stock worth $1,321,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction 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 of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value 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 $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

Several equities analysts have recently issued reports on ABBV shares. Morgan Stanley upped their target price on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Cantor Fitzgerald upped their price objective on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. JPMorgan Chase & Co. raised their target price on AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Hsbc Global Res cut AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Finally, UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $229.14.

AbbVie Stock Down 0.7%

ABBV stock opened at $231.26 on Thursday. The stock has a fifty day moving average of $213.28 and a 200-day moving average of $196.43. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a market capitalization of $408.53 billion, a price-to-earnings ratio of 110.12, a PEG ratio of 1.36 and a beta of 0.51. 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 (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.65 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is currently 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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