Van Lanschot Kempen Investment Management N.V. Grows Stock Position in AbbVie Inc. $ABBV

Key Points

• Van Lanschot Kempen Investment Management N.V. increased its stake in AbbVie Inc. by 4.5%, owning 38,131 shares valued at approximately $7.99 million as of its latest SEC filing.
• AbbVie reported Q2 earnings of $2.97 per share, missing analyst estimates of $3.24, but revenue increased 6.6% year-over-year to $15.42 billion.
• The company declared a quarterly dividend of $1.64, resulting in an annualized dividend yield of 3.2%, despite a high payout ratio of 312.38%.

Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,131 shares of the company's stock after acquiring an additional 1,652 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in AbbVie were worth $7,989,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Steel Grove Capital Advisors LLC boosted its holdings in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Private Management Group Inc. raised its holdings in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after purchasing an additional 54 shares during the period. Connecticut Wealth Management LLC raised its holdings in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the period. Castle Wealth Management LLC lifted its stake in shares of AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after purchasing an additional 57 shares in the last quarter. Finally, High Falls Advisors Inc grew its holdings in shares of AbbVie by 3.2% during the 1st quarter. High Falls Advisors Inc now owns 1,863 shares of the company's stock worth $390,000 after purchasing an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.3%

Shares of AbbVie stock opened at $205.9930 on Wednesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The business has a 50-day moving average of $191.75 and a 200-day moving average of $192.56. The company has a market capitalization of $363.90 billion, a PE ratio of 98.09, a P/E/G ratio of 1.33 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results 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 net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the prior year, the company posted $2.65 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, July 15th. AbbVie's payout ratio is 312.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBV. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Guggenheim increased 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. Piper Sandler initiated coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 target price on the stock. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $214.95.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's 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 completion of the sale, the executive vice president owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on 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. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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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