Winthrop Advisory Group LLC Has $845,000 Position in AbbVie Inc. $ABBV

Key Points

• Winthrop Advisory Group LLC increased its holdings in AbbVie Inc. by 46.7% during the 2nd quarter, owning 4,555 shares valued at $845,000 as of the end of the quarter.
• AbbVie reported a net margin of 6.45% and a revenue of $15.42 billion for the last quarter, exceeding analyst expectations.
• The company announced a quarterly dividend of $1.64 per share, with an ex-dividend date of October 15th, translating to an annual yield of 2.8%.

Winthrop Advisory Group LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 46.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,555 shares of the company's stock after purchasing an additional 1,450 shares during the quarter. Winthrop Advisory Group LLC's holdings in AbbVie were worth $845,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. FF Advisors LLC grew its position in shares of AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock valued at $286,000 after purchasing an additional 53 shares during the last quarter. Private Management Group Inc. grew its holdings in AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after buying an additional 54 shares in the last quarter. Silicon Valley Capital Partners grew its holdings 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 holdings in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company's stock valued at $388,000 after buying an additional 56 shares in the last quarter. Finally, Castle Wealth Management LLC grew its holdings in AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after buying an additional 57 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.4%

NYSE ABBV opened at $233.42 on Wednesday. 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 Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The company has a market cap of $412.35 billion, a price-to-earnings ratio of 111.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The business's fifty day moving average is $212.45 and its 200 day moving average is $196.19.

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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Hsbc Global Res lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Finally, 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. Four equities research 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 company. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $229.14.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade 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.

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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