AbbVie Inc. $ABBV Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in AbbVie Inc. by 23.8% in the first quarter, owning 2,600,720 shares worth approximately $544.7 million.
• AbbVie recently declared a quarterly dividend of $1.64 per share, yielding 3.0%, with a payout ratio of 312.38%.
• Despite reporting $2.97 EPS and missing consensus estimates, AbbVie’s quarterly revenue was $15.42 billion, exceeding analyst expectations of $14.93 billion.

Voya Investment Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,600,720 shares of the company's stock after buying an additional 499,808 shares during the quarter. AbbVie accounts for approximately 0.6% of Voya Investment Management LLC's portfolio, making the stock its 25th largest holding. Voya Investment Management LLC owned 0.15% of AbbVie worth $544,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. TD Capital Management LLC grew its position in AbbVie by 82.9% during the first 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 period. Abound Financial LLC acquired a new position in AbbVie during the first quarter worth about $30,000. Siemens Fonds Invest GmbH grew its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new position in AbbVie during the first quarter worth about $35,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie during the fourth quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company'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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of ABBV opened at $220.09 on Friday. 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 company has a market capitalization of $388.80 billion, a price-to-earnings ratio of 104.81, a PEG ratio of 1.36 and a beta of 0.53. The company's 50 day simple moving average is $199.67 and its 200 day simple moving average is $194.48. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $221.77.

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 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 business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Guggenheim upped their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup upped their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Finally, Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, AbbVie currently has an average 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.

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