Wintrust Investments LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Wintrust Investments LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,113 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Wintrust Investments LLC’s holdings in AbbVie were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ABBV. Corundum Group Inc. increased its stake in shares of AbbVie by 2.1% during the first quarter. Corundum Group Inc. now owns 4,151 shares of the company’s stock valued at $449,000 after buying an additional 87 shares during the period. Invst LLC boosted its stake in shares of AbbVie by 0.9% during the second quarter. Invst LLC now owns 9,585 shares of the company’s stock valued at $1,126,000 after purchasing an additional 88 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of AbbVie by 24.1% during the first quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares in the last quarter. Altfest L J & Co. Inc. boosted its stake in shares of AbbVie by 0.5% during the second quarter. Altfest L J & Co. Inc. now owns 18,871 shares of the company’s stock valued at $2,126,000 after purchasing an additional 89 shares in the last quarter. Finally, Old North State Trust LLC boosted its stake in shares of AbbVie by 1.5% during the first quarter. Old North State Trust LLC now owns 6,415 shares of the company’s stock valued at $694,000 after purchasing an additional 92 shares in the last quarter. 65.82% of the stock is currently owned by institutional investors and hedge funds.

ABBV traded up $2.03 on Wednesday, reaching $108.51. 181,596 shares of the company’s stock were exchanged, compared to its average volume of 7,020,889. AbbVie Inc. has a twelve month low of $79.11 and a twelve month high of $121.53. The stock has a market cap of $191.76 billion, a PE ratio of 29.07, a P/E/G ratio of 2.01 and a beta of 0.82. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.91 and a quick ratio of 0.79. The stock’s fifty day moving average price is $115.79 and its 200-day moving average price is $112.80.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 29th. The company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.02. AbbVie had a return on equity of 154.24% and a net margin of 12.40%. The business had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $13.64 billion. During the same period in the previous year, the firm posted $2.34 EPS. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 12.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.79%. The ex-dividend date is Thursday, October 14th. AbbVie’s payout ratio is currently 49.24%.

ABBV has been the subject of a number of analyst reports. Morgan Stanley restated a “buy” rating and set a $116.00 price objective on shares of AbbVie in a research note on Friday, August 20th. Cowen boosted their price objective on shares of AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. Mizuho boosted their target price on AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Truist Securities started coverage on AbbVie in a research note on Tuesday, July 27th. They set a “buy” rating and a $117.00 target price on the stock. Finally, Argus boosted their target price on AbbVie from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $123.47.

In related news, SVP Carrie C. Strom sold 5,057 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $120.00, for a total value of $606,840.00. Following the transaction, the senior vice president now directly owns 11,595 shares in the company, valued at $1,391,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

Further Reading: When can a hold rating present a buying opportunity?

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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