AbbVie Inc. $ABBV Shares Bought by Viewpoint Investment Partners Corp

Key Points

• Viewpoint Investment Partners Corp increased its stake in AbbVie Inc. by 178.6% in Q2, owning 17,393 shares valued at approximately $3.2 million.
• The company recently reported earnings per share of $2.97 for the last quarter, missing estimates, though revenue increased by 6.6% year-over-year to $15.42 billion.
• AbbVie declared a quarterly dividend of $1.64 per share, resulting in an annualized dividend of $6.56 and a yield of 2.7%, with the ex-dividend date set for October 15th.

Viewpoint Investment Partners Corp grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 178.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,393 shares of the company's stock after acquiring an additional 11,150 shares during the period. AbbVie comprises approximately 1.8% of Viewpoint Investment Partners Corp's holdings, making the stock its 14th biggest position. Viewpoint Investment Partners Corp's holdings in AbbVie were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the 2nd quarter worth $25,000. TD Capital Management LLC lifted its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the 1st quarter worth about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following 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 can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares in the company, valued at $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. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Berenberg Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating and raised their price target for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Morgan Stanley raised their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Piper Sandler assumed coverage on shares of AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target on the stock. Finally, Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.45.

AbbVie Trading Up 5.7%

AbbVie stock opened at $244.77 on Thursday. 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 firm has a 50-day moving average price of $208.97 and a two-hundred day moving average price of $195.71. The firm has a market capitalization of $432.40 billion, a price-to-earnings ratio of 116.56, a PEG ratio of 1.35 and a beta of 0.51. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results 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). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is 312.38%.

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.

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