AbbVie Inc. $ABBV Stake Lifted by Dynamic Advisor Solutions LLC

Key Points

• Dynamic Advisor Solutions LLC increased its stake in AbbVie Inc. by 2.9% during the 2nd quarter, now holding 58,534 shares valued at approximately $10.87 million.
• AbbVie reported quarterly earnings of $2.97 per share, missing analysts' expectations, yet had a revenue of $15.42 billion, which exceeded estimates.
• The company announced a quarterly dividend of $1.64 per share, representing an annualized yield of 3.0%, with the ex-dividend date set for October 15th.

Dynamic Advisor Solutions LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,534 shares of the company's stock after purchasing an additional 1,668 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in AbbVie were worth $10,865,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Capital Management LLC raised its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie in the first quarter worth about $30,000. Siemens Fonds Invest GmbH boosted its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie in the 1st quarter valued at $35,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.6%

ABBV opened at $216.27 on Wednesday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The business has a 50-day moving average of $201.39 and a 200-day moving average of $194.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market capitalization of $382.05 billion, a PE ratio of 102.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.53.

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 analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period last year, the business earned $2.65 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler initiated coverage on AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target for the company. Wells Fargo & Company lifted their target price on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Citigroup increased 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. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $220.43.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm'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 transaction, the executive vice president directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm'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 value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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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