Parkside Financial Bank & Trust Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Parkside Financial Bank & Trust increased its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,697 shares of the company’s stock after acquiring an additional 242 shares during the period. Parkside Financial Bank & Trust’s holdings in AbbVie were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMS Capital Management raised its stake in shares of AbbVie by 1.0% during the 2nd quarter. IMS Capital Management now owns 9,879 shares of the company’s stock valued at $1,513,000 after buying an additional 94 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in shares of AbbVie by 4.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 546,138 shares of the company’s stock valued at $83,647,000 after buying an additional 21,345 shares during the last quarter. PFG Advisors raised its stake in shares of AbbVie by 2.7% during the 2nd quarter. PFG Advisors now owns 18,886 shares of the company’s stock valued at $2,892,000 after buying an additional 495 shares during the last quarter. Lee Johnson Capital Management LLC grew its position in shares of AbbVie by 6.8% during the 2nd quarter. Lee Johnson Capital Management LLC now owns 10,221 shares of the company’s stock valued at $1,565,000 after acquiring an additional 654 shares during the period. Finally, Adams Asset Advisors LLC grew its position in shares of AbbVie by 8.3% during the 2nd quarter. Adams Asset Advisors LLC now owns 74,716 shares of the company’s stock valued at $11,443,000 after acquiring an additional 5,700 shares during the period. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Barclays dropped their target price on AbbVie to $160.00 in a research report on Tuesday, August 9th. Piper Sandler dropped their target price on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. Morgan Stanley dropped their target price on AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. Atlantic Securities dropped their target price on AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Finally, UBS Group lowered their price objective on AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.35.

AbbVie Trading Down 1.0 %

Shares of AbbVie stock opened at $140.31 on Thursday. The stock has a market cap of $248.08 billion, a P/E ratio of 19.87, a P/E/G ratio of 4.00 and a beta of 0.72. The stock’s 50 day simple moving average is $142.13 and its 200-day simple moving average is $149.60. AbbVie Inc. has a 1-year low of $105.93 and a 1-year high of $175.91. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75.

AbbVie (NYSE:ABBVGet Rating) last issued its earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.09. The business had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.11 EPS. Analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio is presently 79.89%.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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