Pine Valley Investments Ltd Liability Co Raises Stake in AbbVie Inc. (NYSE:ABBV)

Pine Valley Investments Ltd Liability Co increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,973 shares of the company’s stock after acquiring an additional 2,075 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in AbbVie were worth $9,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. International Assets Investment Management LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $41,416,000. Gilbert & Cook Inc. raised its holdings in shares of AbbVie by 9.8% in the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after purchasing an additional 861 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of AbbVie by 0.5% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 19,611 shares of the company’s stock worth $3,039,000 after acquiring an additional 100 shares in the last quarter. PYA Waltman Capital LLC lifted its position in AbbVie by 14.0% in the fourth quarter. PYA Waltman Capital LLC now owns 15,806 shares of the company’s stock valued at $2,449,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Cannell & Co. grew its stake in AbbVie by 1.8% during the 4th quarter. Cannell & Co. now owns 230,806 shares of the company’s stock worth $35,768,000 after buying an additional 4,060 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Up 0.6 %

Shares of ABBV stock traded up $1.13 during mid-day trading on Friday, reaching $196.31. The company’s stock had a trading volume of 3,820,802 shares, compared to its average volume of 5,441,654. The company’s 50 day simple moving average is $181.44 and its 200-day simple moving average is $173.93. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $198.30. The firm has a market capitalization of $346.66 billion, a PE ratio of 58.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 10.87 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were paid a $1.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.16%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets upped their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $191.64.

AbbVie Company 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.