Dohj LLC Acquires 1,335 Shares of AbbVie Inc. $ABBV

Key Points

• Dohj LLC increased its ownership of AbbVie Inc. by 41.8%, acquiring an additional 1,335 shares in the second quarter, bringing its total holdings to 4,529 shares worth $802,000.
• Several institutional investors, including Morton Capital Management LLC and Valmark Advisers Inc., also increased their stakes in AbbVie during the same period, indicating strong interest in the company.
• AbbVie declared a quarterly dividend of $1.64 per share, which translates to an annual yield of 2.8%, with a substantial dividend payout ratio of 312.38%.

Dohj LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 41.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,529 shares of the company's stock after purchasing an additional 1,335 shares during the period. Dohj LLC's holdings in AbbVie were worth $802,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Morton Capital Management LLC CA lifted its position in shares of AbbVie by 2.9% during the 2nd quarter. Morton Capital Management LLC CA now owns 9,722 shares of the company's stock worth $1,805,000 after buying an additional 275 shares during the period. Valmark Advisers Inc. raised its stake in AbbVie by 14.6% during the second quarter. Valmark Advisers Inc. now owns 11,193 shares of the company's stock worth $2,078,000 after acquiring an additional 1,430 shares in the last quarter. Hall Capital Management Co. Inc. lifted its holdings in shares of AbbVie by 0.9% during the second quarter. Hall Capital Management Co. Inc. now owns 16,134 shares of the company's stock valued at $2,995,000 after acquiring an additional 149 shares during the period. LifeSteps Financial Inc. grew its holdings in shares of AbbVie by 0.7% in the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company's stock worth $1,366,000 after purchasing an additional 54 shares during the last quarter. Finally, Northern Financial Advisors Inc grew its holdings in shares of AbbVie by 16.5% in the 2nd quarter. Northern Financial Advisors Inc now owns 3,969 shares of the company's stock worth $737,000 after purchasing an additional 563 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction 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 represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABBV. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price on the stock in a report on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of AbbVie in a research report on Saturday, September 27th. Hsbc Global Res downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Finally, Piper Sandler began coverage on shares of AbbVie in a research note on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $229.14.

AbbVie Price Performance

Shares of ABBV stock opened at $233.42 on Wednesday. The firm's 50 day moving average price is $212.45 and its two-hundred day moving average price is $196.19. 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 52-week low of $163.81 and a 52-week high of $244.81. The stock has a market cap of $412.35 billion, a PE ratio of 111.15, a PEG ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the company earned $2.65 EPS. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. 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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