Wulff Hansen & CO. Has $475,000 Stake in AbbVie Inc. (NYSE:ABBV)

Wulff Hansen & CO. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,770 shares of the company’s stock after selling 340 shares during the period. Wulff Hansen & CO.’s holdings in AbbVie were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. West Coast Financial LLC boosted its stake in shares of AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares in the last quarter. FCG Investment Co bought a new position in shares of AbbVie in the 1st quarter valued at $1,413,000. Safeguard Financial LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $235,000. BluePath Capital Management LLC increased its holdings in AbbVie by 0.9% in the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after purchasing an additional 67 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in AbbVie in the 4th quarter worth about $87,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. BMO Capital Markets upped their price objective on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Truist Financial reaffirmed a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Wells Fargo & Company increased their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays raised their price objective on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Morgan Stanley increased their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $191.64.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred 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 directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV opened at $193.82 on Tuesday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The business’s 50 day simple moving average is $189.87 and its two-hundred day simple moving average is $175.86. The firm has a market cap of $342.26 billion, a P/E ratio of 57.51, a PEG ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the firm posted $2.91 EPS. AbbVie’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.