Schulhoff & Co. Inc. Boosts Stock Holdings in AbbVie Inc. $ABBV

Schulhoff & Co. Inc. boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,771 shares of the company’s stock after purchasing an additional 130 shares during the period. AbbVie comprises approximately 2.3% of Schulhoff & Co. Inc.’s portfolio, making the stock its 11th biggest holding. Schulhoff & Co. Inc.’s holdings in AbbVie were worth $5,155,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in AbbVie by 3.1% in the second quarter. Cullen Frost Bankers Inc. now owns 396,225 shares of the company’s stock valued at $73,547,000 after purchasing an additional 11,730 shares during the last quarter. St. Johns Investment Management Company LLC lifted its stake in AbbVie by 7.8% in the second quarter. St. Johns Investment Management Company LLC now owns 4,191 shares of the company’s stock valued at $778,000 after purchasing an additional 305 shares during the last quarter. Wallace Advisory Group LLC lifted its stake in AbbVie by 9.9% in the second quarter. Wallace Advisory Group LLC now owns 3,103 shares of the company’s stock valued at $576,000 after purchasing an additional 279 shares during the last quarter. Greenup Street Wealth Management LLC lifted its stake in AbbVie by 7.7% in the second quarter. Greenup Street Wealth Management LLC now owns 1,647 shares of the company’s stock valued at $306,000 after purchasing an additional 118 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC lifted its stake in AbbVie by 6.0% in the second quarter. Jackson Thornton Wealth Management LLC now owns 1,455 shares of the company’s stock valued at $276,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Hsbc Global Res cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Wall Street Zen cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Raymond James Financial reissued an “outperform” rating and set a $250.00 target price (up previously from $236.00) on shares of AbbVie in a report on Friday. HSBC set a $225.00 target price on shares of AbbVie in a report on Thursday, October 2nd. Finally, Piper Sandler boosted their price target on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

AbbVie Stock Performance

NYSE ABBV opened at $231.48 on Wednesday. The company has a 50-day simple moving average of $219.24 and a two-hundred day simple moving average of $198.07. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The firm has a market cap of $408.93 billion, a price-to-earnings ratio of 110.23, a PEG ratio of 1.45 and a beta of 0.51.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) 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.