Childress Capital Advisors LLC Has $1.54 Million Stake in AbbVie Inc. $ABBV

Key Points

• Childress Capital Advisors LLC increased its stake in AbbVie Inc. by 25.1% during Q2, holding 8,310 shares valued at $1.54 million.
• AbbVie announced a quarterly dividend of $1.64 per share, with an annualized yield of 2.8% and an expected payout ratio of 312.38%.
• Despite reporting quarterly earnings of $2.97 per share, AbbVie missed analysts' expectations of $3.24, although its revenue grew by 6.6% year-over-year.

Childress Capital Advisors LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 25.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,310 shares of the company's stock after purchasing an additional 1,667 shares during the quarter. Childress Capital Advisors LLC's holdings in AbbVie were worth $1,542,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie during the second quarter worth approximately $25,000. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter worth approximately $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the first quarter worth approximately $35,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the first quarter worth approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction 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. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction on 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 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 position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

AbbVie Stock Up 3.7%

Shares of NYSE:ABBV opened at $231.47 on Wednesday. The company has a market capitalization of $408.91 billion, a PE ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53. 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 has a fifty day moving average price of $207.89 and a two-hundred day moving average price of $195.37. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $232.35.

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 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 revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 EPS. Analysts forecast 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 will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. Guggenheim upped their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Piper Sandler started coverage on AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target for the company. BMO Capital Markets upped their price target on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $223.45.

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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