Integrity Alliance LLC. Has $4.78 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Integrity Alliance LLC increased its holdings in AbbVie Inc. by 974.6% in Q1, now owning 22,802 shares valued at approximately $4.78 million.
• AbbVie reported earnings of $2.97 per share for the last quarter, missing estimates by $0.27, although its revenue of $15.42 billion exceeded expectations.
• The company announced a quarterly dividend of $1.64 per share, with a yield of 3.1%, payable on November 14th.

Integrity Alliance LLC. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 974.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,802 shares of the company's stock after purchasing an additional 20,680 shares during the period. Integrity Alliance LLC.'s holdings in AbbVie were worth $4,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. TD Capital Management LLC increased its holdings in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie in the first quarter worth about $30,000. Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the 1st quarter worth approximately $35,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related 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 transaction of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred 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 of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $210.46 on Wednesday. The stock has a 50 day moving average price of $198.64 and a 200 day moving average price of $194.25. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market capitalization of $371.79 billion, a PE ratio of 100.22, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the business earned $2.65 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is presently 312.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America increased their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Piper Sandler assumed coverage on AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price objective for the company. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a report on Thursday, August 7th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $214.95.

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.

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.