Columbus Macro LLC Boosts Holdings in AbbVie Inc. $ABBV

Key Points

• Columbus Macro LLC increased its stake in AbbVie Inc. by 6.6% during the second quarter, bringing its total holdings to 27,823 shares, valued at approximately $5.17 million.
• AbbVie recently announced a quarterly dividend of $1.64 per share, resulting in an annualized dividend of $6.56 and a yield of 2.8%.
• AbbVie reported quarterly earnings of $2.97 EPS, missing estimates, but still achieving revenue of $15.42 billion, which exceeded expectations.

Columbus Macro LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,823 shares of the company's stock after purchasing an additional 1,711 shares during the period. Columbus Macro LLC's holdings in AbbVie were worth $5,165,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie in the second quarter worth about $25,000. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% in 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 last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the first quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter worth about $35,000. Finally, Bear Mountain Capital Inc. grew its holdings in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company's stock worth $40,000 after purchasing an additional 173 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were 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 in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

ABBV stock opened at $231.26 on Thursday. The firm has a market cap of $408.53 billion, a price-to-earnings ratio of 110.12, a PEG ratio of 1.36 and a beta of 0.51. The firm has a 50-day simple moving average of $213.28 and a two-hundred day simple moving average of $196.43. AbbVie Inc. has a one year low of $163.81 and a one year high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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 for 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 business's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABBV shares. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Bank of America upped their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. UBS Group set a $251.00 price objective on shares of AbbVie in a research note on Friday, October 3rd. BMO Capital Markets upped their price objective on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $229.14.

AbbVie 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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