2,449 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Johnson Financial Group LLC

Key Points

• Johnson Financial Group LLC established a new position in AbbVie Inc., purchasing 2,449 shares valued at approximately $513,000 in the first quarter.
• AbbVie reported a $2.97 EPS for the last quarter, falling short of the analysts' expectations of $3.24, but the company's revenue increased by 6.6% year-over-year.
• The company declared a quarterly $1.64 dividend, with an annualized dividend yield of 3.3%, highlighting its commitment to return capital to shareholders despite a high payout ratio of 312.38%.

Johnson Financial Group LLC purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,449 shares of the company's stock, valued at approximately $513,000.

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

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie 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 owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup upped their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Bank of America raised their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Raymond James Financial raised their price objective on AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Guggenheim lifted their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $214.43.

AbbVie Stock Performance

AbbVie stock traded up $0.41 during midday trading on Monday, reaching $198.46. 5,596,874 shares of the company traded hands, compared to its average volume of 6,780,796. The firm has a market capitalization of $350.59 billion, a price-to-earnings ratio of 94.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The business has a 50 day moving average of $189.65 and a two-hundred day moving average of $191.35. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last posted its 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 company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The business's revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. AbbVie's payout ratio 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.