Sand Hill Global Advisors LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Sand Hill Global Advisors LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,755 shares of the company’s stock after purchasing an additional 68 shares during the period. Sand Hill Global Advisors LLC’s holdings in AbbVie were worth $2,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Johnson & White Wealth Management LLC bought a new stake in AbbVie in the 1st quarter valued at $721,000. Chesapeake Wealth Management increased its holdings in AbbVie by 21.4% in the 4th quarter. Chesapeake Wealth Management now owns 13,083 shares of the company’s stock valued at $2,114,000 after acquiring an additional 2,305 shares during the last quarter. Quintet Private Bank Europe S.A. bought a new stake in AbbVie in the 1st quarter valued at $6,686,000. Capital Market Strategies LLC increased its holdings in AbbVie by 5.0% in the 1st quarter. Capital Market Strategies LLC now owns 12,027 shares of the company’s stock valued at $1,917,000 after acquiring an additional 575 shares during the last quarter. Finally, Compass Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at $3,984,000. 67.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the sale, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by corporate insiders.

AbbVie Price Performance

ABBV stock opened at $149.02 on Friday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. The company has a 50-day moving average price of $144.93 and a 200 day moving average price of $147.59. The stock has a market cap of $263.03 billion, a PE ratio of 30.66, a P/E/G ratio of 2.64 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.12. The company had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $13.52 billion. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. Equities research analysts anticipate that AbbVie Inc. will post 11.03 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.97%. AbbVie’s dividend payout ratio (DPR) is 121.81%.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Credit Suisse Group reduced their price target on shares of AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Piper Sandler boosted their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. William Blair started coverage on shares of AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating on the stock. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Finally, HSBC started coverage on shares of AbbVie in a report on Friday, July 14th. They issued a “buy” rating and a $167.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $165.79.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.