Invst LLC Has $1.35 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Invst LLC increased its holdings in AbbVie Inc. by 68.9%, owning a total of 6,454 shares worth approximately $1.35 million at the end of the quarter.
• AbbVie announced a quarterly dividend of $1.64 per share, with a dividend yield of 3.0%, payable on November 14th to shareholders of record on October 15th.
• In recent earnings, AbbVie reported $2.97 EPS for the quarter, missing estimates, but had a revenue of $15.42 billion, surpassing analyst expectations.

Invst LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 68.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,454 shares of the company's stock after buying an additional 2,633 shares during the quarter. Invst LLC's holdings in AbbVie were worth $1,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ABBV. Brighton Jones LLC increased its position in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of AbbVie by 0.8% during the fourth quarter. ProShare Advisors LLC now owns 1,262,493 shares of the company's stock worth $224,345,000 after acquiring an additional 10,064 shares during the period. Redwood Investment Management LLC grew its position in shares of AbbVie by 599.8% in the fourth quarter. Redwood Investment Management LLC now owns 13,633 shares of the company's stock valued at $2,423,000 after purchasing an additional 11,685 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $62,420,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

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 owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler assumed coverage on AbbVie in a research report on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 target price on the stock. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Raymond James Financial reiterated an "outperform" rating on shares of AbbVie in a research note on Monday, August 25th. Bank of America boosted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four investment 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. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $214.95.

AbbVie Trading Up 4.0%

Shares of ABBV stock opened at $220.09 on Friday. The stock's fifty day moving average price is $199.67 and its two-hundred day moving average price is $194.48. The company has a market cap of $388.80 billion, a PE ratio of 104.81, a P/E/G ratio of 1.36 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.77. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

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.

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.