Winthrop Advisory Group LLC Has $845,000 Stake in AbbVie Inc. $ABBV

Winthrop Advisory Group LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 46.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,555 shares of the company’s stock after purchasing an additional 1,450 shares during the period. Winthrop Advisory Group LLC’s holdings in AbbVie were worth $845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Nuveen LLC acquired a new position in AbbVie in the first quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. lifted its position in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after acquiring an additional 3,666,521 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AbbVie during the second quarter valued at about $581,817,000. Finally, Bessemer Group Inc. raised its holdings in shares of AbbVie by 147.6% during the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Guggenheim upped their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley upped their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $229.14.

AbbVie Stock Up 1.4%

AbbVie stock opened at $233.42 on Wednesday. The firm has a market capitalization of $412.35 billion, a price-to-earnings ratio of 111.15, a P/E/G ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a 50 day simple moving average of $212.45 and a 200 day simple moving average of $196.19.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. On average, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

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.