Chicago Partners Investment Group LLC Purchases 3,952 Shares of AbbVie Inc. (NYSE:ABBV)

Key Points

• Chicago Partners Investment Group LLC increased its stake in AbbVie Inc. by 11.3% in the first quarter, bringing its total valuation to $8.14 million.
• AbbVie reported a quarterly earnings per share of $2.97, falling short of estimates, while achieving a revenue of $15.42 billion.
• Wall Street analysts maintain a consensus rating of “Moderate Buy” for AbbVie, with a price target averaging $212.81.

Chicago Partners Investment Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,842 shares of the company's stock after acquiring an additional 3,952 shares during the period. Chicago Partners Investment Group LLC's holdings in AbbVie were worth $8,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the first quarter worth $30,000. Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter valued at $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 0.4%

Shares of ABBV traded down $0.76 during trading hours on Friday, reaching $198.10. The stock had a trading volume of 4,101,321 shares, compared to its average volume of 5,210,216. The firm has a 50-day simple moving average of $189.65 and a 200 day simple moving average of $191.06. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a current ratio of 0.74, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $349.96 billion, a price-to-earnings ratio of 94.33, a P/E/G ratio of 1.28 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share 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 the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $2.65 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on 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. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABBV. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Guggenheim boosted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Raymond James Financial raised their target price on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $214.43.

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.