Krilogy Financial LLC Buys 1,178 Shares of AbbVie Inc. $ABBV

Key Points

• Krilogy Financial LLC increased its stake in AbbVie Inc. by 11.1% in the second quarter, acquiring an additional 1,178 shares, bringing its total holdings to 11,800 shares valued at $2.19 million.
• AbbVie recently reported earnings per share of $2.97 for the last quarter, which fell short of analysts' expectations of $3.24, while its total revenue was $15.42 billion, exceeding the forecast of $14.93 billion.
• The company declared a quarterly dividend of $1.64 per share to be paid on November 14th, with an annualized dividend yield of 3% despite a high dividend payout ratio of 312.38%.

Krilogy Financial LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,800 shares of the company's stock after buying an additional 1,178 shares during the quarter. Krilogy Financial LLC's holdings in AbbVie were worth $2,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Brighton Jones LLC increased its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. 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 valued at $32,000 after purchasing an additional 119,141 shares in the last quarter. Triglav Skladi D.O.O. acquired a new position in AbbVie during the 4th quarter valued at approximately $6,703,000. Finally, Visionary Wealth Advisors increased its stake in AbbVie by 2.1% during the 4th quarter. Visionary Wealth Advisors now owns 57,722 shares of the company's stock valued at $10,257,000 after purchasing an additional 1,196 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Down 0.2%

Shares of AbbVie stock opened at $217.92 on Tuesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $221.76. The company has a 50 day moving average of $200.86 and a 200 day moving average of $194.51. 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 capitalization of $384.97 billion, a P/E ratio of 103.77, a P/E/G ratio of 1.40 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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 company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter in the prior year, the firm posted $2.65 EPS. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie's dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a report on Friday. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Piper Sandler assumed coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $218.76.

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.

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