Hill Island Financial LLC Invests $209,000 in AbbVie Inc. $ABBV

Key Points

• Hill Island Financial LLC has acquired a new stake in AbbVie Inc. valued at approximately $209,000, purchasing 1,125 shares during the second quarter, as reported in their 13F filing with the SEC.
• AbbVie's stock opened at $234.07 with a market cap of $413.49 billion, showing a twelve-month price range of $163.81 to $244.81.
• The company recently announced a quarterly dividend of $1.64 per share, set to be paid out on November 14th, representing an annualized dividend of $6.56 and a yield of 2.8%.

Hill Island Financial LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,125 shares of the company's stock, valued at approximately $209,000.

A number of other institutional investors have also recently bought and sold shares of the business. FF Advisors LLC lifted its stake in AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock worth $286,000 after purchasing an additional 53 shares during the period. Private Management Group Inc. lifted its position in shares of AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after buying an additional 54 shares during the period. Silicon Valley Capital Partners boosted its stake in AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company's stock valued at $118,000 after buying an additional 56 shares in the last quarter. Seneca House Advisors grew its position in AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company's stock valued at $388,000 after acquiring an additional 56 shares during the period. Finally, Castle Wealth Management LLC raised its stake in AbbVie by 3.4% during the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV stock opened at $234.07 on Friday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $413.49 billion, a P/E ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The business's fifty day moving average is $210.77 and its 200-day moving average is $195.90.

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 analysts' consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.65 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio is currently 312.38%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and raised their price target for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $228.22.

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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