Invst LLC Purchases 2,633 Shares of AbbVie Inc. $ABBV

Invst LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 68.9% in the first quarter, Holdings Channel reports. The fund owned 6,454 shares of the company’s stock after acquiring an additional 2,633 shares during the quarter. Invst LLC’s holdings in AbbVie were worth $1,352,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABBV. GAMMA Investing LLC lifted its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after acquiring an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new position in shares of AbbVie in the 1st quarter valued at $1,819,154,000. Goldman Sachs Group Inc. lifted its stake in shares of AbbVie by 31.6% in 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 acquiring an additional 3,519,187 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $2,142,832,000 after purchasing an additional 1,882,780 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in AbbVie by 147.6% during the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock worth $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $220.09 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The business has a 50-day moving average price of $199.67 and a two-hundred day moving average price of $194.48. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $221.77. The company has a market cap of $388.80 billion, a P/E ratio of 104.81, a PEG ratio of 1.36 and a beta of 0.53.

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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $214.95.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was 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 in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $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. Company 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.