Strategies Wealth Advisors LLC Acquires Shares of 2,074 AbbVie Inc. $ABBV

Key Points

• Strategies Wealth Advisors LLC acquired 2,074 shares of AbbVie Inc. valued at approximately $435,000 in the first quarter of the year.
• AbbVie reported quarterly earnings of $2.97 per share, missing the consensus estimate of $3.24, while revenues reached $15.42 billion, surpassing expectations.
• The company has announced a quarterly dividend of $1.64, providing an annualized yield of 3.1% amid a high dividend payout ratio of 312.38%.

Strategies Wealth Advisors LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,074 shares of the company's stock, valued at approximately $435,000.

A number of other hedge funds have also made changes to their positions in ABBV. Abound Financial LLC acquired a new stake in AbbVie during the first quarter worth approximately $30,000. Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the 1st quarter worth $35,000. Pinney & Scofield Inc. purchased a new stake in AbbVie in the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in AbbVie in the first quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

NYSE ABBV opened at $209.5410 on Friday. The stock has a market capitalization of $370.17 billion, a price-to-earnings ratio of 99.78, a PEG ratio of 1.34 and a beta of 0.50. The business's 50 day moving average is $192.45 and its two-hundred day moving average is $192.81. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The company's revenue was up 6.6% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 312.38%.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Guggenheim raised their price objective 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. Finally, Raymond James Financial increased their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.95.

Insider Activity

In other AbbVie news, 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 transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on 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 transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This trade represents 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 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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