LVM Capital Management Ltd. MI Has $31.06 Million Holdings in AbbVie Inc. $ABBV

Key Points

• LVM Capital Management Ltd. increased its holdings in AbbVie Inc. by 0.7%, owning 167,338 shares worth approximately $31.06 million, making it the firm's fifth-largest position.
• AbbVie plans to pay a quarterly dividend of $1.64 on November 14th, resulting in an annualized yield of 3.0%, despite a high payout ratio of 312.38%.
• The company's recent earnings report revealed a miss on EPS estimates, reporting $2.97 versus the expected $3.24, but revenue exceeded expectations at $15.42 billion.

LVM Capital Management Ltd. MI grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,338 shares of the company's stock after buying an additional 1,211 shares during the quarter. AbbVie accounts for about 3.2% of LVM Capital Management Ltd. MI's holdings, making the stock its 5th biggest position. LVM Capital Management Ltd. MI's holdings in AbbVie were worth $31,061,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after buying an additional 58 shares during the last quarter. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter valued at about $30,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the first quarter valued at about $35,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the first quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares in the company, 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. 0.25% of the stock is owned by insiders.

AbbVie Stock Down 0.8%

ABBV opened at $218.40 on Friday. 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 stock has a market cap of $385.82 billion, a price-to-earnings ratio of 104.00, a PEG ratio of 1.42 and a beta of 0.53. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $221.76. The company's 50-day moving average price is $200.25 and its two-hundred day moving average price is $194.58.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABBV. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Guggenheim boosted their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $217.10.

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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