13,215 Shares in AbbVie Inc. $ABBV Purchased by Ransom Advisory Ltd

Key Points

• Ransom Advisory Ltd acquired 13,215 shares of AbbVie Inc. valued at approximately $2.77 million, marking it as the 17th largest position in its investment portfolio.
• Several major investors, including Goldman Sachs and Vanguard Group, increased their stakes in AbbVie during the 1st quarter, contributing to the company's strong institutional ownership of 70.23%.
• AbbVie recently announced a quarterly dividend of $1.64 per share, with an anticipated annual yield of 3.1%, despite a high payout ratio of 312.38%.

Ransom Advisory Ltd bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,215 shares of the company's stock, valued at approximately $2,769,000. AbbVie accounts for about 1.4% of Ransom Advisory Ltd's investment portfolio, making the stock its 17th biggest position.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in AbbVie by 0.5% during the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after buying an additional 845,787 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after acquiring an additional 189,294 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock valued at $2,675,959,000 after acquiring an additional 713,148 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AbbVie by 18.5% during the fourth 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 in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.3%

ABBV opened at $210.46 on Wednesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company's 50 day moving average price is $198.64 and its two-hundred day moving average price is $194.25. The firm has a market capitalization of $371.79 billion, a price-to-earnings ratio of 100.22, a PEG ratio of 1.35 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 EPS. As a group, research analysts predict 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 will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America raised their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Piper Sandler started coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target on the stock. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Guggenheim increased their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Four 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 company. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $214.95.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business'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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 of the company's stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

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.

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