ZEGA Investments LLC Purchases 4,152 Shares of AbbVie Inc. $ABBV

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

ZEGA Investments LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 35.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,837 shares of the company's stock after purchasing an additional 4,152 shares during the period. AbbVie accounts for about 0.5% of ZEGA Investments LLC's portfolio, making the stock its 21st largest position. ZEGA Investments LLC's holdings in AbbVie were worth $3,318,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the period. Nuveen LLC bought a new position in AbbVie in the first quarter valued at approximately $1,819,154,000. Goldman Sachs Group Inc. raised 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 valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock worth $1,735,969,000 after purchasing an additional 2,102,273 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $214.95.

AbbVie Stock Performance

Shares of ABBV stock traded up $2.5340 during midday trading on Wednesday, hitting $208.7240. 5,781,396 shares of the company were exchanged, compared to its average volume of 4,927,043. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The firm has a market capitalization of $368.72 billion, a P/E ratio of 99.39, a PEG ratio of 1.32 and a beta of 0.50. The firm's 50 day moving average price is $192.10 and its two-hundred day moving average price is $192.68. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the business earned $2.65 earnings per share. The company's revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

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 stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.