Caxton Associates LLP bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,431 shares of the company's stock, valued at approximately $1,347,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC grew its stake in AbbVie by 5.1% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 6,530 shares of the company's stock worth $1,368,000 after acquiring an additional 316 shares during the period. Fred Alger Management LLC grew its stake in AbbVie by 394.5% in the 1st quarter. Fred Alger Management LLC now owns 423,540 shares of the company's stock worth $88,740,000 after acquiring an additional 337,893 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in AbbVie in the 1st quarter worth approximately $968,000. Ashton Thomas Private Wealth LLC grew its stake in AbbVie by 3.9% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 39,401 shares of the company's stock worth $8,255,000 after acquiring an additional 1,479 shares during the period. Finally, Kestra Investment Management LLC grew its stake in AbbVie by 3.5% in the 1st quarter. Kestra Investment Management LLC now owns 7,357 shares of the company's stock worth $1,541,000 after acquiring an additional 249 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other AbbVie 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 value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.
AbbVie Stock Performance
NYSE:ABBV opened at $210.46 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $371.79 billion, a price-to-earnings ratio of 100.22, a PEG ratio of 1.35 and a beta of 0.53. The firm's fifty day simple moving average is $198.64 and its 200 day simple moving average is $194.25. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last posted its 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). The business had revenue of $15.42 billion for 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 business's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.1%. AbbVie's payout ratio is currently 312.38%.
Analyst Upgrades and Downgrades
Several research firms have commented on ABBV. Morgan Stanley lifted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $214.95.
Check Out Our Latest Research Report on ABBV
AbbVie Company Profile
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Free Report)
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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