Duncker Streett & Co. Inc. Has $7.70 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Duncker Streett & Co. Inc. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,914 shares of the company’s stock after purchasing an additional 278 shares during the quarter. AbbVie makes up 1.5% of Duncker Streett & Co. Inc.’s investment portfolio, making the stock its 14th biggest holding. Duncker Streett & Co. Inc.’s holdings in AbbVie were worth $7,704,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the second quarter worth $27,000. Able Wealth Management LLC bought a new stake in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the first quarter valued at about $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of AbbVie during the 4th quarter worth about $37,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on 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 sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 0.6 %

Shares of NYSE ABBV opened at $196.31 on Friday. The firm has a fifty day simple moving average of $181.44 and a two-hundred day simple moving average of $173.93. The firm has a market capitalization of $346.75 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $198.30.

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

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABBV. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Barclays raised 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. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, BMO Capital Markets lifted their price objective on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $191.64.

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.