CW Advisors LLC Increases Holdings in AbbVie Inc. $ABBV

CW Advisors LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,882 shares of the company’s stock after purchasing an additional 9,338 shares during the period. CW Advisors LLC’s holdings in AbbVie were worth $22,392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after purchasing an additional 845,787 shares during the period. Northern Trust Corp increased its holdings in AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after purchasing an additional 189,294 shares during the period. Goldman Sachs Group Inc. increased its holdings in AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock valued at $2,142,832,000 after purchasing an additional 1,882,780 shares during the period. Finally, GAMMA Investing LLC increased its holdings in AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABBV shares. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Raymond James Financial raised their target price on AbbVie from $227.00 to $236.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Daiwa America upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Citigroup increased their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $214.95.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 in the company, valued at $11,562,611.97. This represents 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 Price Performance

Shares of NYSE ABBV opened at $208.7240 on Thursday. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The firm has a market cap of $368.72 billion, a P/E ratio of 99.39, a PEG ratio of 1.32 and a beta of 0.50. The company has a 50 day moving average of $192.10 and a 200 day moving average of $192.68. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

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

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.