Campbell & CO Investment Adviser LLC Acquires New Shares in AbbVie Inc. $ABBV

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new stake in AbbVie Inc., purchasing 34,587 shares valued at approximately $7.25 million, making it the 8th largest position in their portfolio.
• Despite a missed earnings target of $2.97 per share for the last quarter, AbbVie reported higher revenue than expected, totaling $15.42 billion.
• AbbVie recently paid a quarterly dividend of $1.64 per share, indicating a substantial annual payout ratio of 312.38%.

Campbell & CO Investment Adviser LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,587 shares of the company's stock, valued at approximately $7,247,000. AbbVie accounts for about 0.6% of Campbell & CO Investment Adviser LLC's portfolio, making the stock its 8th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in AbbVie in the first quarter valued at about $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 purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in AbbVie during the first quarter valued at approximately $35,000. Pinney & Scofield Inc. acquired a new position in AbbVie during the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 0.4%

Shares of NYSE:ABBV opened at $210.2840 on Friday. The company has a market capitalization of $371.48 billion, a price-to-earnings ratio of 100.14, a P/E/G ratio of 1.35 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The business's 50-day moving average is $192.84 and its 200-day moving average is $192.96. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.65 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a research note on Thursday, August 7th. Five 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 stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus 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.

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