Mather Group LLC. Buys 3,153 Shares of AbbVie Inc. $ABBV

Key Points

• Mather Group LLC increased its stake in AbbVie Inc. by 10.4%, acquiring an additional 3,153 shares, bringing its total holdings to 33,531 shares valued at $6.22 million.
• AbbVie reported earnings of $2.97 per share for the last quarter, missing analysts' estimates, but revenue increased by 6.6% year-over-year to $15.42 billion.
• The company declared a quarterly dividend of $1.64 per share, reflecting an annualized yield of 2.9% and indicating a high payout ratio of 312.38%.

Mather Group LLC. increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,531 shares of the company's stock after acquiring an additional 3,153 shares during the quarter. Mather Group LLC.'s holdings in AbbVie were worth $6,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after acquiring an additional 845,787 shares in the last quarter. Northern Trust Corp raised its holdings in AbbVie by 0.9% during the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after buying an additional 189,294 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of AbbVie by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock worth $2,675,959,000 after acquiring an additional 713,148 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.1%

Shares of ABBV stock opened at $222.88 on Wednesday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $225.16. 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 50 day moving average of $204.47 and a 200-day moving average of $195.04. The firm has a market cap of $393.74 billion, a P/E ratio of 106.14, a PEG ratio of 1.33 and a beta of 0.53.

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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the business earned $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current 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 given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie's payout ratio is 312.38%.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Evercore ISI increased their target price on shares of AbbVie from $207.00 to $222.00 and gave the company an "outperform" rating in a report on Monday. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Guggenheim lifted their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $223.45.

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 stock was sold at an average price of $198.51, for a total transaction 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 represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

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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