Chapin Davis Inc. Has $1.90 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Chapin Davis Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,627 shares of the company’s stock after buying an additional 215 shares during the period. Chapin Davis Inc.’s holdings in AbbVie were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the second quarter valued at approximately $27,000. Able Wealth Management LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $33,000. IFS Advisors LLC bought a new stake in shares of AbbVie during the first quarter worth $36,000. Finally, Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABBV shares. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets increased their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.67.

AbbVie Stock Down 0.4 %

ABBV stock opened at $193.57 on Tuesday. The firm has a 50-day moving average price of $193.35 and a 200-day moving average price of $176.84. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $341.82 billion, a P/E ratio of 57.44, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued 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. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.91 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced 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 is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.20%. AbbVie’s dividend payout ratio is presently 183.98%.

AbbVie Company 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.