Coldstream Capital Management Inc. Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Coldstream Capital Management Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,666 shares of the company’s stock after buying an additional 602 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AbbVie were worth $10,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in shares of AbbVie by 1.3% during the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares during the period. Hilltop Partners LLC lifted its holdings in shares of AbbVie by 1.4% during the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after purchasing an additional 55 shares during the period. Lokken Investment Group LLC lifted its holdings in shares of AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the period. Longfellow Investment Management Co. LLC lifted its holdings in shares of AbbVie by 1.0% during the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after purchasing an additional 58 shares during the period. Finally, RAM Investment Partners LLC lifted its holdings in shares of AbbVie by 1.1% during the second quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock worth $895,000 after purchasing an additional 59 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

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

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets upped their target price on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Morgan Stanley upped their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $191.64.

AbbVie Stock Up 0.7 %

NYSE ABBV opened at $197.76 on Tuesday. The business has a fifty day moving average price of $184.40 and a 200 day moving average price of $174.74. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market cap of $349.31 billion, a P/E ratio of 58.27, a P/E/G ratio of 2.64 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. Research analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

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.