AbbVie Inc. $ABBV Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,096 shares of the company’s stock after acquiring an additional 2,378 shares during the quarter. Smartleaf Asset Management LLC’s holdings in AbbVie were worth $5,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Abound Financial LLC purchased a new stake in AbbVie during the 1st quarter worth $30,000. Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares during the period. Cypress Capital Management LLC WY purchased a new stake in AbbVie during the 1st quarter worth $35,000. Pinney & Scofield Inc. purchased a new stake in AbbVie during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in AbbVie during the 1st quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.4%

AbbVie stock opened at $210.2840 on Friday. The firm has a 50-day moving average price of $192.84 and a two-hundred day moving average price of $192.95. The firm has a market capitalization of $371.48 billion, a price-to-earnings ratio of 100.14, a PEG ratio of 1.35 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. 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 issued its quarterly earnings results 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 company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed 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 of this dividend was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.1%. AbbVie’s payout ratio is presently 312.38%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James Financial lifted their price target on shares of AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Guggenheim boosted their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Five 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 stock presently has an average rating of “Moderate Buy” and an average price target of $214.95.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% 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.

AbbVie 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.