2,454 Shares in AbbVie Inc. $ABBV Purchased by Oliver Lagore Vanvalin Investment Group

Key Points

• The Oliver Lagore Vanvalin Investment Group made a new investment of approximately $456,000 in AbbVie Inc., acquiring 2,454 shares of the company.
• AbbVie recently declared a quarterly dividend of $1.64 per share, which translates to a dividend yield of 3.0% and a high payout ratio of 312.38%.
• Despite missing earnings expectations with an EPS of $2.97, AbbVie's revenue increased by 6.6% year-over-year, amounting to $15.42 billion for the quarter.

Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 2,454 shares of the company's stock, valued at approximately $456,000.

Other institutional investors also recently modified their holdings of the company. Kozak & Associates Inc. raised its holdings in AbbVie by 164.4% during the second quarter. Kozak & Associates Inc. now owns 4,849 shares of the company's stock worth $924,000 after buying an additional 3,015 shares during the last quarter. Charter Oak Capital Management LLC raised its holdings in AbbVie by 1.6% during the second quarter. Charter Oak Capital Management LLC now owns 8,671 shares of the company's stock worth $1,609,000 after buying an additional 134 shares during the last quarter. Burns J W & Co. Inc. NY grew its stake in shares of AbbVie by 3.0% in the 2nd quarter. Burns J W & Co. Inc. NY now owns 34,266 shares of the company's stock worth $6,360,000 after acquiring an additional 1,005 shares in the last quarter. Carderock Capital Management Inc. bought a new stake in shares of AbbVie in the 2nd quarter worth $130,000. Finally, Brady Family Wealth LLC grew its stake in shares of AbbVie by 2.2% in the 2nd quarter. Brady Family Wealth LLC now owns 6,092 shares of the company's stock worth $1,131,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $2.51 during midday trading on Monday, hitting $224.98. 2,055,562 shares of the company's stock traded hands, compared to its average volume of 6,458,901. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $225.16. The stock has a market capitalization of $397.45 billion, a price-to-earnings ratio of 107.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm has a fifty day moving average of $203.12 and a 200 day moving average of $194.78.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for 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%. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.65 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 dividend on an annualized basis and a yield of 2.9%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABBV shares. Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Evercore ISI increased their target price on shares of AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a research report on Monday. Berenberg Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating and raised their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Morgan Stanley raised their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $223.45.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was 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 in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

AbbVie Company Profile

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.