Baugh & Associates LLC Has $7.35 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Baugh & Associates LLC has decreased its holdings in AbbVie Inc. by 4.9%, selling 2,214 shares and leaving it with 42,743 shares, worth approximately $7,354,000.
• Several institutional investors have altered their positions in AbbVie, with notable increases from TD Capital Management LLC, which lifted its holdings by 82.9%, and Siemens Fonds Invest GmbH, which increased its stake by 197.6%.
• AbbVie recently announced a quarterly dividend of $1.64 per share, yielding 3.0%, with an ex-dividend date on October 15th.

Baugh & Associates LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,743 shares of the company's stock after selling 2,214 shares during the quarter. AbbVie accounts for approximately 3.8% of Baugh & Associates LLC's investment portfolio, making the stock its 9th biggest holding. Baugh & Associates LLC's holdings in AbbVie were worth $7,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after buying an additional 845,787 shares in the last quarter. Northern Trust Corp raised its holdings in shares of AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after purchasing an additional 189,294 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock worth $2,675,959,000 after purchasing an additional 713,148 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction 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 directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Performance

AbbVie stock traded up $0.62 during mid-day trading on Monday, reaching $223.09. The company's stock had a trading volume of 5,989,926 shares, compared to its average volume of 6,480,546. The firm's fifty day moving average price is $203.75 and its two-hundred day moving average price is $194.84. The company has a market capitalization of $394.09 billion, a P/E ratio of 106.23, a PEG ratio of 1.33 and a beta of 0.53. 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 Inc. has a 12-month low of $163.81 and a 12-month high of $225.16.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.65 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie's payout ratio is 312.38%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research reports. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Wells Fargo & Company lifted their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. 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. Berenberg Bank raised shares of AbbVie from a "hold" rating to a "buy" rating and lifted their price target for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average price target of $223.45.

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.