Calton & Associates Inc. Buys 2,615 Shares of AbbVie Inc. $ABBV

Key Points

• Calton & Associates Inc. significantly increased its stake in AbbVie Inc. by 73.4%, acquiring an additional 2,615 shares in the first quarter, bringing their total holdings to 6,176 shares worth approximately $1.29 million.
• Several institutional investors also expanded their positions in AbbVie, with TD Capital Management LLC increasing its holdings by 82.9% during the same period, showcasing strong institutional interest in the company.
• AbbVie recently reported a quarterly earnings miss, with $2.97 EPS falling short of analysts' expectations of $3.24, although its revenue witnessed a 6.6% year-over-year increase.

Calton & Associates Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 73.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,176 shares of the company's stock after purchasing an additional 2,615 shares during the period. Calton & Associates Inc.'s holdings in AbbVie were worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TD Capital Management LLC boosted its position in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter valued at $30,000. Siemens Fonds Invest GmbH boosted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter valued at $35,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter valued at $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.2%

NYSE:ABBV traded down $0.33 on Wednesday, hitting $211.59. The stock had a trading volume of 3,973,459 shares, compared to its average volume of 6,550,117. 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 has a market cap of $373.79 billion, a P/E ratio of 100.76, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The firm's fifty day simple moving average is $196.10 and its two-hundred day simple moving average is $193.78.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during 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 company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $2.65 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.1%. AbbVie's dividend payout ratio (DPR) is 312.38%.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Morgan Stanley increased their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Four equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.