Apexium Financial LP Has $1.18 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Apexium Financial LP increased its holdings in AbbVie Inc. by 42.3%, bringing their total shares to 5,648, valued at approximately $1.18 million.
• Other institutional investors significantly increased their positions, with GAMMA Investing LLC raising holdings by an astonishing 25,841.6% during the same quarter.
• AbbVie recently declared a quarterly dividend of $1.64 per share, reflecting an annualized payout of $6.56 and a yield of 3.1%, though its dividend payout ratio stands at a high 312.38%.

Apexium Financial LP grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 42.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,648 shares of the company's stock after acquiring an additional 1,680 shares during the quarter. Apexium Financial LP's holdings in AbbVie were worth $1,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP raised its holdings in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after buying an additional 28,753 shares during the period. Narus Financial Partners LLC grew its position in shares of AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after acquiring an additional 401 shares in the last quarter. AXA S.A. grew its position in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Highland Capital Management LLC grew its position in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after acquiring an additional 2,792 shares in the last quarter. Finally, Weaver Capital Management LLC grew its position in shares of AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock worth $1,727,000 after acquiring an additional 310 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Down 0.1%

NYSE:ABBV traded down $0.12 during trading hours on Wednesday, hitting $208.24. 3,458,975 shares of the company's stock traded hands, compared to its average volume of 6,605,940. The firm has a market cap of $367.87 billion, a P/E ratio of 99.16, a P/E/G ratio of 1.33 and a beta of 0.50. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. 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 stock's fifty day moving average price is $193.64 and its two-hundred day moving average price is $193.18.

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 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The firm's quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.2%. AbbVie's payout ratio is 312.38%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price on the stock. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a report on Monday. Citigroup boosted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Thursday, August 7th. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.95.

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.