Chapin Davis Inc. Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Chapin Davis Inc. lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,519 shares of the company's stock after purchasing an additional 1,892 shares during the period. AbbVie comprises about 0.8% of Chapin Davis Inc.'s portfolio, making the stock its 25th biggest holding. Chapin Davis Inc.'s holdings in AbbVie were worth $2,414,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its holdings in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its stake in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares during the period. Connecticut Wealth Management LLC raised its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. raised its position in shares of AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after purchasing an additional 58 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock opened at $185.16 on Monday. The firm's 50 day simple moving average is $185.19 and its 200 day simple moving average is $187.78. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $327.06 billion, a PE ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.54%. AbbVie's payout ratio is 279.15%.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ABBV shares. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

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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