AbbVie Inc. $ABBV is Inspirion Wealth Advisors LLC's 7th Largest Position

Key Points

• Inspirion Wealth Advisors LLC increased its holdings in AbbVie Inc. by 2.1%, making it the firm's 7th largest position in their investment portfolio.
• AbbVie recently missed analysts' earnings per share estimates, reporting $2.97 for the quarter, while its revenue did exceed expectations at $15.42 billion.
• The company announced a quarterly dividend of $1.64 per share, leading to an annualized yield of 3.0%, to be paid on November 14.

Inspirion Wealth Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 205,477 shares of the company's stock after acquiring an additional 4,208 shares during the period. AbbVie comprises 5.0% of Inspirion Wealth Advisors LLC's portfolio, making the stock its 7th biggest position. Inspirion Wealth Advisors LLC's holdings in AbbVie were worth $38,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Capital Management LLC lifted its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter worth approximately $30,000. Siemens Fonds Invest GmbH lifted its stake in shares of 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 acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the 1st quarter worth approximately $35,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter worth approximately $36,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.5%

ABBV stock traded up $1.12 on Thursday, hitting $221.93. 4,441,087 shares of the company's stock were exchanged, compared to its average volume of 6,438,772. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm has a 50 day moving average price of $202.52 and a two-hundred day moving average price of $194.91. The stock has a market cap of $392.05 billion, a P/E ratio of 105.68, a price-to-earnings-growth ratio of 1.39 and a beta of 0.53. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $222.07.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley raised their price objective on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $222.68.

Insider Transactions at AbbVie

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 stock was sold at an average price of $198.51, for a total transaction 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 approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

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.