Caliber Wealth Management LLC KS Purchases 12,608 Shares of AbbVie Inc. $ABBV

Key Points

• Caliber Wealth Management LLC KS significantly increased its stake in AbbVie Inc., purchasing 12,608 additional shares, bringing its total holdings to 13,723 shares valued at approximately $2.5 million.
• AbbVie reported $2.97 earnings per share for the last quarter, missing expectations by $0.27, but recorded a revenue of $15.42 billion, exceeding forecasts.
• The company declared a quarterly dividend of $1.64 per share to be paid on November 14th, with a current dividend yield of 2.8% and a payout ratio of 312.38%.

Caliber Wealth Management LLC KS boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1,130.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,723 shares of the company's stock after acquiring an additional 12,608 shares during the quarter. Caliber Wealth Management LLC KS's holdings in AbbVie were worth $2,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FF Advisors LLC lifted its stake in shares of AbbVie by 3.6% in the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock worth $286,000 after acquiring an additional 53 shares during the period. Private Management Group Inc. boosted its stake in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after purchasing an additional 54 shares during the last quarter. LifeSteps Financial Inc. increased its position in shares of AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company's stock worth $1,366,000 after buying an additional 54 shares during the period. Silicon Valley Capital Partners raised its stake in AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company's stock worth $118,000 after buying an additional 56 shares during the last quarter. Finally, Seneca House Advisors lifted its holdings in AbbVie by 2.7% in the second quarter. Seneca House Advisors now owns 2,093 shares of the company's stock valued at $388,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.2%

Shares of AbbVie stock opened at $231.48 on Wednesday. The company has a market capitalization of $408.93 billion, a P/E ratio of 110.23, a price-to-earnings-growth ratio of 1.45 and a beta of 0.51. The stock has a fifty day simple moving average of $219.24 and a 200 day simple moving average of $198.07. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the business posted $2.65 earnings per share. AbbVie's revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie's dividend payout ratio is presently 312.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group set a $251.00 price target on AbbVie in a report on Friday, October 3rd. JPMorgan Chase & Co. lifted their target price on AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Wall Street Zen lowered AbbVie from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Erste Group Bank downgraded shares of AbbVie from a "buy" rating to a "hold" rating in a research report on Tuesday, October 14th. Finally, Citigroup reissued a "neutral" rating on shares of AbbVie in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $234.80.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, 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 disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

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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