US Bancorp DE Has $451.23 Million Stake in AbbVie Inc. $ABBV

US Bancorp DE trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,430,949 shares of the company's stock after selling 39,226 shares during the period. US Bancorp DE owned 0.14% of AbbVie worth $451,234,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the second quarter valued at approximately $25,000. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $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 approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Bear Mountain Capital Inc. lifted its position in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company's stock valued at $40,000 after buying an additional 173 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $231.26 on Thursday. The stock's fifty day moving average price is $213.28 and its two-hundred day moving average price is $196.43. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market cap of $408.53 billion, a PE ratio of 110.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie's dividend payout ratio (DPR) is presently 312.38%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on 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 transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The shares were 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 owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ABBV shares. UBS Group set a $251.00 price objective on AbbVie in a research report on Friday, October 3rd. Evercore ISI increased their target price on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Guggenheim increased their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald increased their target price on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.14.

About AbbVie

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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