AbbVie Inc. $ABBV Shares Purchased by Compound Planning Inc.

Key Points

• Compound Planning Inc. has increased its stake in AbbVie Inc. by 18.2%, owning 17,139 shares worth approximately $3.59 million as of the latest filing.
• AbbVie reported earnings per share of $2.97, missing analysts' expectations, but saw a revenue increase to $15.42 billion, surpassing predictions.
• The company recently declared a quarterly dividend of $1.64 per share, resulting in an annualized yield of 3.1%, despite a high payout ratio of 312.38%.

Compound Planning Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,139 shares of the company's stock after buying an additional 2,644 shares during the quarter. Compound Planning Inc.'s holdings in AbbVie were worth $3,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in AbbVie by 0.5% during the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp lifted its holdings in shares of AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock valued at $4,612,357,000 after purchasing an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AbbVie by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock valued at $2,142,832,000 after purchasing an additional 1,882,780 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at $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 Trading Up 0.4%

Shares of ABBV traded up $0.7840 on Friday, hitting $210.2840. 5,516,293 shares of the stock traded hands, compared to its average volume of 5,091,977. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $371.48 billion, a P/E ratio of 100.14, a P/E/G ratio of 1.35 and a beta of 0.50. The stock's 50 day moving average is $192.84 and its two-hundred 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 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Piper Sandler started coverage on shares of AbbVie in a report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price target on the stock. Finally, Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.95.

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.