AbbVie Inc. (NYSE:ABBV) Shares Acquired by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC increased its holdings in AbbVie Inc. by 432.7% during the first quarter, acquiring an additional 61,774 shares, resulting in a total of 76,051 shares worth approximately $15.93 million.
• AbbVie reported earnings per share (EPS) of $2.97 for the last quarter, missing analysts' expectations of $3.24, but achieved revenue of $15.42 billion, exceeding estimates.
• The company announced a quarterly dividend of $1.64 per share, with a dividend yield of 3.3%, scheduled for payout on August 15th.

Mizuho Markets Americas LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 432.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,051 shares of the company's stock after acquiring an additional 61,774 shares during the quarter. Mizuho Markets Americas LLC's holdings in AbbVie were worth $15,934,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Crestline Management LP raised its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Narus Financial Partners LLC increased its stake in AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after purchasing an additional 401 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. AXA S.A. increased its stake in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Highland Capital Management LLC increased its stake in AbbVie by 6.3% in the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after purchasing an additional 2,792 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.4%

Shares of NYSE ABBV traded down $0.76 on Friday, hitting $198.10. The company had a trading volume of 4,101,321 shares, compared to its average volume of 5,210,216. The company has a quick ratio of 0.64, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business has a 50 day moving average of $189.65 and a two-hundred day moving average of $191.21. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The firm has a market capitalization of $349.96 billion, a P/E ratio of 94.33, a PEG ratio of 1.27 and a beta of 0.50.

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

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. AbbVie's payout ratio is 312.38%.

Insider Activity at AbbVie

In related 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 completion of the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABBV. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim upped their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley upped their target price on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $214.43.

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.