Capital Analysts LLC Purchases 586 Shares of AbbVie Inc. $ABBV

Capital Analysts LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,884 shares of the company’s stock after purchasing an additional 586 shares during the period. Capital Analysts LLC’s holdings in AbbVie were worth $1,652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Level Four Advisory Services LLC boosted its holdings in AbbVie by 1.7% in the 1st quarter. Level Four Advisory Services LLC now owns 129,365 shares of the company’s stock valued at $27,105,000 after purchasing an additional 2,216 shares during the period. Tradition Wealth Management LLC boosted its holdings in AbbVie by 0.6% in the 1st quarter. Tradition Wealth Management LLC now owns 23,026 shares of the company’s stock valued at $4,824,000 after purchasing an additional 134 shares during the period. Erste Asset Management GmbH boosted its holdings in AbbVie by 71.0% in the 1st quarter. Erste Asset Management GmbH now owns 239,267 shares of the company’s stock valued at $49,169,000 after purchasing an additional 99,318 shares during the period. Vertex Planning Partners LLC boosted its holdings in AbbVie by 0.5% in the 1st quarter. Vertex Planning Partners LLC now owns 16,018 shares of the company’s stock valued at $3,356,000 after purchasing an additional 77 shares during the period. Finally, Heritage Financial Services LLC boosted its holdings in AbbVie by 4.0% in the 1st quarter. Heritage Financial Services LLC now owns 3,683 shares of the company’s stock valued at $772,000 after purchasing an additional 142 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.2%

Shares of AbbVie stock opened at $208.7240 on Thursday. The stock has a market capitalization of $368.72 billion, a P/E ratio of 99.39, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a 50-day simple moving average of $192.10 and a 200 day simple moving average of $192.68. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 EPS. Research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Morgan Stanley raised their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a report on Thursday, August 7th. Raymond James Financial raised their price objective on shares of AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.