Vanguard Personalized Indexing Management LLC Acquires 37,680 Shares of AbbVie Inc. $ABBV

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in AbbVie Inc. by 16.0% during the second quarter, acquiring an additional 37,680 shares, bringing its total ownership to 273,739 shares worth approximately $50.8 million.
• AbbVie reported a quarterly EPS of $2.97, missing analysts' expectations of $3.24, while revenue was $15.42 billion, exceeding estimates.
• The company declared a quarterly dividend of $1.64 per share, which will be paid on November 14th, representing an annualized dividend of $6.56 and a yield of 2.8%.

Vanguard Personalized Indexing Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,739 shares of the company's stock after purchasing an additional 37,680 shares during the period. AbbVie makes up 0.6% of Vanguard Personalized Indexing Management LLC's investment portfolio, making the stock its 21st biggest holding. Vanguard Personalized Indexing Management LLC's holdings in AbbVie were worth $50,835,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Summa Corp. bought a new stake in AbbVie in the second quarter worth $464,000. Sather Financial Group Inc bought a new stake in AbbVie in the second quarter worth $513,000. Sovereign Financial Group Inc. boosted its holdings in AbbVie by 7.9% in the second quarter. Sovereign Financial Group Inc. now owns 3,561 shares of the company's stock worth $661,000 after purchasing an additional 260 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its holdings in AbbVie by 4.7% in the second quarter. Cerro Pacific Wealth Advisors LLC now owns 5,364 shares of the company's stock worth $996,000 after purchasing an additional 241 shares in the last quarter. Finally, Investment Advisory Group LLC boosted its holdings in AbbVie by 6.6% in the second quarter. Investment Advisory Group LLC now owns 4,695 shares of the company's stock worth $871,000 after purchasing an additional 292 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 transaction, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 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 trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Up 0.1%

Shares of ABBV opened at $230.88 on Friday. The company has a 50-day simple moving average of $214.84 and a 200-day simple moving average of $196.76. The firm has a market capitalization of $407.86 billion, a P/E ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.65 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm 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. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Morgan Stanley boosted their target price 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. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research report on Wednesday. Finally, Piper Sandler boosted their target price on shares of AbbVie from $231.00 to $284.00 and gave the stock an "overweight" rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $231.90.

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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