1,400 Shares in AbbVie Inc. $ABBV Bought by 5th Street Advisors LLC

Key Points

• 5th Street Advisors LLC acquired a new stake in AbbVie Inc., purchasing 1,400 shares valued at approximately $293,000 in the first quarter.
• Notable insider selling occurred with EVP Azita Saleki-Gerhardt selling 42,370 shares worth over $8.4 million, representing a decrease in their position by 19.29%.
• AbbVie declared a quarterly dividend of $1.64 per share, reflecting an annualized dividend yield of 3.1% and a high payout ratio of 312.38%.

5th Street Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,400 shares of the company's stock, valued at approximately $293,000.

Several other hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of AbbVie by 4.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,798,733 shares of the company's stock worth $376,871,000 after buying an additional 69,368 shares in the last quarter. Promethium Advisors LLC increased its holdings in shares of AbbVie by 6.3% during the first quarter. Promethium Advisors LLC now owns 17,829 shares of the company's stock worth $3,736,000 after buying an additional 1,050 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of AbbVie by 10.0% during the first quarter. Federation des caisses Desjardins du Quebec now owns 165,509 shares of the company's stock worth $34,684,000 after buying an additional 15,105 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of AbbVie by 20.1% during the first quarter. EP Wealth Advisors LLC now owns 126,128 shares of the company's stock worth $26,426,000 after buying an additional 21,090 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $419,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction 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. 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 is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

AbbVie Trading Up 0.4%

ABBV stock traded up $0.91 during midday trading on Thursday, reaching $212.77. The company's stock had a trading volume of 3,531,488 shares, compared to its average volume of 6,532,153. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The stock has a market cap of $375.87 billion, a PE ratio of 101.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business's 50-day simple moving average is $197.13 and its 200-day simple moving average is $194.04.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley increased their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

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.