AbbVie Inc. (NYSE:ABBV) Shares Bought by Financial Engines Advisors L.L.C.

Key Points

• Financial Engines Advisors L.L.C. increased its holdings in AbbVie Inc. by 5.3% during the 1st quarter, owning 82,030 shares valued at $17.2 million by the end of the quarter.
• AbbVie reported earnings of $2.97 per share for the last quarter, which missed analysts' expectations of $3.24, while revenue was up 6.6% year-over-year.
• The company has declared a quarterly dividend of $1.64 per share, which represents an annualized yield of 3.3% and a payout ratio of 312.38%.

Financial Engines Advisors L.L.C. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,030 shares of the company's stock after purchasing an additional 4,155 shares during the quarter. Financial Engines Advisors L.L.C.'s holdings in AbbVie were worth $17,187,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abound Financial LLC purchased a new position in AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the first quarter worth $35,000. Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at $36,000. Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the 1st quarter valued at $42,000. Finally, HWG Holdings LP acquired a new position in shares of AbbVie during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $3.17 on Thursday, reaching $204.64. 2,636,146 shares of the company's stock were exchanged, compared to its average volume of 6,711,515. The business's 50-day moving average is $190.39 and its two-hundred day moving average is $191.67. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The firm has a market capitalization of $361.52 billion, a price-to-earnings ratio of 97.45, a PEG ratio of 1.28 and a beta of 0.50.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.2%. AbbVie's payout ratio is currently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, 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 approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Guggenheim raised their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday, August 1st. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Daiwa Capital Markets upgraded shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Finally, Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.