Coppell Advisory Solutions LLC Raises Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Coppell Advisory Solutions LLC increased its holdings in AbbVie Inc. by 77.2%, acquiring a total of 2,856 shares valued at approximately $553,000 at the end of the first quarter.
• AbbVie declared a quarterly dividend of $1.64 per share, reflecting a yield of 3.1%, with the ex-dividend date set for October 15th.
• Wall Street analysts maintain a generally positive outlook on AbbVie, with ratings indicating four "Strong Buy", six "Hold", and multiple price targets including a consensus of $214.95.

Coppell Advisory Solutions LLC raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 77.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,856 shares of the company's stock after purchasing an additional 1,244 shares during the period. Coppell Advisory Solutions LLC's holdings in AbbVie were worth $553,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Arete Wealth Advisors LLC grew its stake in AbbVie by 1.9% in the 1st quarter. Arete Wealth Advisors LLC now owns 31,817 shares of the company's stock valued at $6,666,000 after acquiring an additional 586 shares during the period. Strait & Sound Wealth Management LLC raised its position in AbbVie by 1.5% during the first quarter. Strait & Sound Wealth Management LLC now owns 10,178 shares of the company's stock worth $2,132,000 after acquiring an additional 147 shares during the period. Caxton Associates LLP acquired a new stake in shares of AbbVie in the first quarter valued at about $1,347,000. Signature Estate & Investment Advisors LLC grew its position in shares of AbbVie by 5.1% in the first quarter. Signature Estate & Investment Advisors LLC now owns 6,530 shares of the company's stock valued at $1,368,000 after purchasing an additional 316 shares during the period. Finally, Fred Alger Management LLC raised its position in shares of AbbVie by 394.5% during the 1st quarter. Fred Alger Management LLC now owns 423,540 shares of the company's stock worth $88,740,000 after purchasing an additional 337,893 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ABBV shares. Raymond James Financial reiterated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $214.95.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Down 1.2%

Shares of ABBV opened at $209.97 on Tuesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. 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 stock has a fifty day simple moving average of $198.22 and a two-hundred day simple moving average of $194.14. The company has a market capitalization of $370.93 billion, a PE ratio of 99.99, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the firm posted $2.65 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

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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