Lynch & Associates IN Has $12.65 Million Position in AbbVie Inc. (NYSE:ABBV)

Lynch & Associates IN grew its position in AbbVie Inc. (NYSE:ABBV) by 3.8% during the second quarter, HoldingsChannel reports. The firm owned 73,746 shares of the company’s stock after buying an additional 2,731 shares during the period. AbbVie comprises approximately 2.8% of Lynch & Associates IN’s portfolio, making the stock its 8th largest holding. Lynch & Associates IN’s holdings in AbbVie were worth $12,649,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. Anchor Capital Advisors LLC boosted its position in shares of AbbVie by 0.7% during the 2nd quarter. Anchor Capital Advisors LLC now owns 96,566 shares of the company’s stock valued at $16,563,000 after purchasing an additional 703 shares in the last quarter. Certuity LLC boosted its holdings in shares of AbbVie by 10.0% during the 2nd quarter. Certuity LLC now owns 6,775 shares of the company’s stock worth $1,162,000 after buying an additional 615 shares in the last quarter. Kerusso Capital Management LLC bought a new position in shares of AbbVie during the 2nd quarter worth approximately $1,072,000. Counterweight Ventures LLC increased its stake in shares of AbbVie by 0.6% in the 2nd quarter. Counterweight Ventures LLC now owns 16,448 shares of the company’s stock valued at $2,821,000 after acquiring an additional 96 shares in the last quarter. Finally, Chris Bulman Inc acquired a new position in shares of AbbVie during the 2nd quarter valued at $420,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV stock opened at $193.40 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The firm has a 50-day moving average of $183.88 and a 200-day moving average of $174.60. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a market cap of $341.52 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.68 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the business posted $2.91 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.21%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Buy” and an average price target of $191.64.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value 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 disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

About AbbVie

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.