SLT Holdings LLC Boosts Stock Position in AbbVie Inc. $ABBV

SLT Holdings LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 20.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,598 shares of the company’s stock after purchasing an additional 273 shares during the quarter. SLT Holdings LLC’s holdings in AbbVie were worth $297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. FF Advisors LLC grew its position in shares of AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after acquiring an additional 53 shares in the last quarter. Private Management Group Inc. grew its position in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares in the last quarter. LifeSteps Financial Inc. grew its position in shares of AbbVie by 0.7% in the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners grew its position in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors grew its position in shares of AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. Morgan Stanley lifted their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler boosted their price objective on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. HSBC set a $225.00 price objective on AbbVie in a research report on Thursday, October 2nd. Finally, Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.90.

AbbVie Trading Up 0.1%

Shares of ABBV stock opened at $230.88 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The stock has a fifty day moving average of $214.84 and a two-hundred day moving average of $196.79. The firm has a market capitalization of $407.86 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the firm posted $2.65 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.