AbbVie Inc. $ABBV Shares Purchased by AlTi Global Inc.

by · The Cerbat Gem

AlTi Global Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 9.3% in the 2nd quarter, Holdings Channel reports. The fund owned 48,104 shares of the company’s stock after buying an additional 4,094 shares during the period. AlTi Global Inc.’s holdings in AbbVie were worth $9,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of ABBV. FF Advisors LLC grew its position in AbbVie by 3.6% during the second quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after buying an additional 53 shares during the period. Private Management Group Inc. increased its position in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares in the last quarter. LifeSteps Financial Inc. lifted its position in shares of AbbVie by 0.7% during the 2nd quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock valued at $1,366,000 after buying an additional 54 shares in the last quarter. Silicon Valley Capital Partners lifted its position in shares of AbbVie by 10.8% during the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock valued at $118,000 after buying an additional 56 shares in the last quarter. Finally, Seneca House Advisors increased its holdings in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.0%

Shares of NYSE:ABBV opened at $228.74 on Friday. The company has a market capitalization of $404.08 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 1.42 and a beta of 0.51. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The business has a 50-day moving average price of $220.26 and a 200 day moving average price of $198.58. 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 announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 company 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 business earned $2.65 earnings per share. AbbVie’s revenue was up 6.6% on a year-over-year basis. Sell-side 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 will be paid on Friday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s payout ratio is presently 312.38%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ABBV shares. Piper Sandler raised their price objective on AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Guggenheim raised their price target on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. BMO Capital Markets raised their target price on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $234.80.

Read Our Latest Research Report on ABBV

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred 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 owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).