Jones Financial Companies Lllp Has $36.79 Million Stake in AbbVie Inc. $ABBV

Key Points

• Jones Financial Companies Lllp has increased its stake in AbbVie Inc. by 15.7%, holding 178,952 shares worth approximately $36.79 million as of the latest quarter.
• Analysts have issued revised price targets for AbbVie, with Citigroup setting a target of $205.00 and Wells Fargo increasing theirs to $260.00, reflecting a consensus rating of "Moderate Buy."
• AbbVie announced a quarterly dividend of $1.64, payable on November 14th, representing a yield of 3.0%, despite a payout ratio of 312.38%.

Jones Financial Companies Lllp boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 15.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,952 shares of the company's stock after buying an additional 24,307 shares during the quarter. Jones Financial Companies Lllp's holdings in AbbVie were worth $36,790,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABBV. TD Capital Management LLC increased its position in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter valued at about $30,000. Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter valued at about $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at about $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ABBV shares. Citigroup raised their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. BMO Capital Markets raised their price target on AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Finally, Wells Fargo & Company raised their price target on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.10.

Insider Activity at AbbVie

In related 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 value of $2,639,190.45. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on 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 sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

AbbVie Stock Down 0.8%

ABBV stock opened at $218.40 on Monday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $221.76. The company has a market cap of $385.82 billion, a PE ratio of 104.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53. The business's 50-day simple moving average is $200.25 and its 200 day simple moving average is $194.45. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.65 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business 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. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is 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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