M Holdings Securities Inc. Buys Shares of 10,069 AbbVie Inc. $ABBV

Key Points

• M Holdings Securities Inc. acquired 10,069 shares of AbbVie Inc. worth approximately $2.11 million, as disclosed in their latest 13F filing with the SEC.
• A substantial increase in stake has been observed from other hedge funds, such as GAMMA Investing LLC, which grew its holdings by 25,841.6% during the first quarter.
• The company's most recent earnings report indicated an EPS of $2.97, which was below analysts' expectations, but revenue rose to $15.42 billion, exceeding estimates of $14.93 billion.

M Holdings Securities Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 10,069 shares of the company's stock, valued at approximately $2,110,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares in the last quarter. Nuveen LLC purchased a new stake in shares of AbbVie during the first quarter worth about $1,819,154,000. Goldman Sachs Group Inc. grew its holdings in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Northern Trust Corp grew its holdings in shares of AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of AbbVie by 27.4% during the fourth quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock worth $1,735,969,000 after buying an additional 2,102,273 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm'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. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's 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 transaction, the executive vice president 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 disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABBV. Piper Sandler began coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target for the company. Bank of America raised their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Stock Performance

Shares of ABBV opened at $206.65 on Monday. The firm has a 50-day moving average price of $191.08 and a 200 day moving average price of $192.31. The firm has a market capitalization of $365.06 billion, a PE ratio of 98.41, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results 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). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's dividend payout ratio is presently 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.

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