Comprehensive Financial Consultants Institutional Inc. Grows Stake in AbbVie Inc. $ABBV

Key Points

• Comprehensive Financial Consultants Institutional Inc. increased its stake in AbbVie by 1,344.0%, owning 18,657 shares valued at approximately $3.46 million as of its latest SEC filing.
• Despite reporting earnings per share of $2.97 for the last quarter—missing expectations by $0.27—AbbVie saw a 6.6% year-over-year increase in revenue, reaching $15.42 billion.
• AbbVie announced a quarterly dividend of $1.64, with a dividend yield of 2.8% and a high payout ratio of 312.38%, set to be paid on November 14th.

Comprehensive Financial Consultants Institutional Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1,344.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,657 shares of the company's stock after buying an additional 17,365 shares during the quarter. AbbVie comprises 1.1% of Comprehensive Financial Consultants Institutional Inc.'s investment portfolio, making the stock its 27th biggest position. Comprehensive Financial Consultants Institutional Inc.'s holdings in AbbVie were worth $3,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA purchased a new position in AbbVie in the second quarter worth about $25,000. TD Capital Management LLC increased its position in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring 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 AbbVie during the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie during the first quarter valued at about $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV opened at $234.07 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The stock has a 50 day moving average of $210.77 and a 200-day moving average of $195.79. The firm has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the firm earned $2.65 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio is presently 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on Tuesday, August 12th. The stock was 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 approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. BMO Capital Markets boosted their price objective on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. UBS Group set a $251.00 price target on AbbVie in a research note on Friday. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $228.22.

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.

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