AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Chapin Davis Inc.

Chapin Davis Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,412 shares of the company’s stock after acquiring an additional 340 shares during the quarter. Chapin Davis Inc.’s holdings in AbbVie were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the 4th quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $33,000. IFS Advisors LLC purchased a new position in AbbVie during the first quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $37,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock traded up $0.50 on Friday, hitting $193.90. The company’s stock had a trading volume of 3,675,149 shares, compared to its average volume of 5,535,780. AbbVie Inc. has a one year low of $135.85 and a one year high of $194.99. The firm has a market cap of $342.40 billion, a P/E ratio of 57.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a fifty day moving average price of $176.05 and a 200-day moving average price of $172.25.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $2.91 EPS. AbbVie’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Barclays lifted their price target on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.29.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.