CreativeOne Wealth LLC Boosts Holdings in AbbVie Inc. $ABBV

CreativeOne Wealth LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,217 shares of the company’s stock after acquiring an additional 1,712 shares during the quarter. CreativeOne Wealth LLC’s holdings in AbbVie were worth $8,845,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the period. Optiver Holding B.V. increased its stake in AbbVie by 72.2% in the fourth quarter. Optiver Holding B.V. now owns 1,534 shares of the company’s stock worth $273,000 after purchasing an additional 643 shares during the period. Evergreen Wealth Solutions LLC increased its stake in AbbVie by 1.9% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 3,863 shares of the company’s stock worth $687,000 after purchasing an additional 73 shares during the period. Finally, Voleon Capital Management LP bought a new stake in shares of AbbVie during the fourth quarter worth $11,381,000. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Trading Up 0.5%

AbbVie stock opened at $208.51 on Wednesday. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The stock has a market cap of $368.35 billion, a PE ratio of 99.29, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a 50-day moving average of $193.64 and a two-hundred day moving average of $193.18.

AbbVie (NYSE:ABBV) last posted 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). 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 business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, July 15th. AbbVie’s payout ratio is presently 312.38%.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. 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 report on Friday, August 1st. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Piper Sandler started coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price on the stock. Bank of America raised their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Five analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.95.

AbbVie 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.