AbbVie Inc. $ABBV Shares Bought by Delta Investment Management LLC

Delta Investment Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,041 shares of the company’s stock after buying an additional 253 shares during the quarter. Delta Investment Management LLC’s holdings in AbbVie were worth $847,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Paces Ferry Wealth Advisors LLC lifted its position in AbbVie by 2.6% during the 1st quarter. Paces Ferry Wealth Advisors LLC now owns 2,354 shares of the company’s stock worth $493,000 after acquiring an additional 59 shares during the period. Triad Wealth Partners LLC increased its holdings in shares of AbbVie by 15.9% in the first quarter. Triad Wealth Partners LLC now owns 5,231 shares of the company’s stock valued at $1,096,000 after purchasing an additional 719 shares during the period. RB Capital Management LLC raised its stake in shares of AbbVie by 1.4% during the first quarter. RB Capital Management LLC now owns 14,061 shares of the company’s stock worth $2,946,000 after purchasing an additional 192 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of AbbVie by 4.2% during the first quarter. CreativeOne Wealth LLC now owns 42,217 shares of the company’s stock worth $8,845,000 after purchasing an additional 1,712 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of AbbVie by 49.8% during the first quarter. Ieq Capital LLC now owns 114,761 shares of the company’s stock worth $24,045,000 after purchasing an additional 38,156 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.5%

AbbVie stock opened at $208.51 on Wednesday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $368.35 billion, a price-to-earnings ratio of 99.29, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The stock’s fifty day moving average is $193.64 and its two-hundred day moving average is $193.18. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $2.65 EPS. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie’s dividend payout ratio is 312.38%.

Analyst Ratings Changes

A number of equities analysts have commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.95.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction 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 sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

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.