Teza Capital Management LLC Has $912,000 Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Teza Capital Management LLC increased its holdings in AbbVie Inc. by 209.3% in Q1, owning 4,352 shares valued at $912,000 as of the end of the quarter.
• Insider trading activity included Azita Saleki-Gerhardt and Nicholas Donoghoe selling shares, reducing their ownership stakes by 19.29% and 18.58% respectively.
• AbbVie recently announced a quarterly dividend of $1.64, with a dividend yield of 3.1%, set to be paid on November 14th.

Teza Capital Management LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 209.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,352 shares of the company's stock after acquiring an additional 2,945 shares during the period. Teza Capital Management LLC's holdings in AbbVie were worth $912,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. TD Capital Management LLC raised its position in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the period. Abound Financial LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $30,000. Siemens Fonds Invest GmbH raised 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 acquiring an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. Finally, Pinney & Scofield Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm's stock in a transaction on 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 directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. This 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 currently owned by company insiders.

AbbVie Trading Down 0.3%

AbbVie stock opened at $212.34 on Friday. The firm has a 50-day moving average of $197.74 and a 200-day moving average of $194.13. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market cap of $375.11 billion, a price-to-earnings ratio of 101.11, a P/E/G ratio of 1.37 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS 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 analyst estimates of $14.93 billion. During the same quarter in the prior year, the company earned $2.65 earnings per share. The company's quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Piper Sandler initiated coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price on the stock. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $214.95.

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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