Cwm LLC Has $60.03 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Cwm LLC increased its stake in AbbVie Inc. by 4.6% in Q2, holding shares worth approximately $60.03 million after purchasing an additional 14,132 shares.
• AbbVie announced a quarterly dividend of $1.64 per share, with a dividend yield of 2.8%, scheduled for payment on November 14th.
• Despite a revenue increase of 6.6% year-over-year, AbbVie reported an EPS of $2.97 for the last quarter, which was below the consensus estimate of $3.24.

Cwm LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,383 shares of the company's stock after purchasing an additional 14,132 shares during the quarter. Cwm LLC's holdings in AbbVie were worth $60,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FF Advisors LLC raised its stake in AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company's stock worth $286,000 after acquiring an additional 53 shares in the last quarter. Private Management Group Inc. raised its stake in AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after acquiring an additional 54 shares in the last quarter. LifeSteps Financial Inc. raised its stake in AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company's stock worth $1,366,000 after acquiring an additional 54 shares in the last quarter. Silicon Valley Capital Partners raised its stake in AbbVie by 10.8% during the first quarter. Silicon Valley Capital Partners now owns 573 shares of the company's stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Finally, Seneca House Advisors raised its stake in AbbVie by 2.7% during the second quarter. Seneca House Advisors now owns 2,093 shares of the company's stock worth $388,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Up 0.1%

Shares of NYSE ABBV opened at $230.88 on Friday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The business has a 50-day simple moving average of $214.84 and a two-hundred day simple moving average of $196.76. 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 company has a market cap of $407.86 billion, a P/E ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last issued its 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 company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred 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 of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business'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 value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the stock an "overweight" rating in a report on Thursday. Bank of America increased their price target on AbbVie from $220.00 to $251.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. UBS Group set a $251.00 price target on AbbVie in a report on Friday, October 3rd. Hsbc Global Res lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets upped their target price on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus price target of $231.90.

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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