Steward Partners Investment Advisory LLC Has $57.01 Million Stake in AbbVie Inc. (NYSE:ABBV)

Key Points

• Steward Partners Investment Advisory LLC increased its stake in AbbVie Inc. by 0.7%, bringing its total holdings to $57.01 million, according to its latest SEC filing.
• AbbVie reported earnings of $2.97 per share for the last quarter, falling short of the consensus estimate of $3.24, despite generating a revenue of $15.42 billion.
• The company announced a quarterly dividend of $1.64 per share, representing an annual yield of 3.2%, with a payout ratio of 312.38%.

Steward Partners Investment Advisory LLC raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,085 shares of the company's stock after acquiring an additional 1,907 shares during the period. Steward Partners Investment Advisory LLC's holdings in AbbVie were worth $57,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crestline Management LP boosted its position in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after buying an additional 28,753 shares during the period. Narus Financial Partners LLC boosted its position in shares of AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after buying an additional 401 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares during the period. AXA S.A. boosted its position in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after buying an additional 125,568 shares during the period. Finally, Highland Capital Management LLC boosted its position in AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after purchasing an additional 2,792 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.0%

NYSE ABBV opened at $206.65 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. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a market cap of $365.06 billion, a price-to-earnings ratio of 98.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The business's fifty day moving average is $191.08 and its 200 day moving average is $192.20.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the business earned $2.65 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given 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 payout ratio is presently 312.38%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Bank of America increased their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Citigroup increased their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Finally, Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Thursday, August 7th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $214.95.

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.

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