Gerber Kawasaki Wealth & Investment Management Raises Position in AbbVie Inc. $ABBV

Gerber Kawasaki Wealth & Investment Management lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,242 shares of the company’s stock after purchasing an additional 112 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in AbbVie were worth $889,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. increased its stake in shares of AbbVie by 18.1% during the 1st quarter. Itau Unibanco Holding S.A. now owns 10,420 shares of the company’s stock worth $2,183,000 after purchasing an additional 1,599 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of AbbVie by 32.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 103,882 shares of the company’s stock worth $21,765,000 after purchasing an additional 25,409 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $105,000. B. Metzler seel. Sohn & Co. AG grew its stake in AbbVie by 11.3% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 484,797 shares of the company’s stock valued at $101,574,000 after buying an additional 49,266 shares in the last quarter. Finally, Delta Investment Management LLC grew its stake in AbbVie by 6.7% in the 1st quarter. Delta Investment Management LLC now owns 4,041 shares of the company’s stock valued at $847,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president directly 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 legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on 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 sale, 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. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.1%

Shares of NYSE:ABBV opened at $207.91 on Friday. The firm has a fifty day moving average price of $194.55 and a two-hundred day moving average price of $193.41. 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 one year low of $163.81 and a one year high of $218.66. The company has a market cap of $367.28 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 1.34 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the business earned $2.65 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Guggenheim lifted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley lifted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.95.

AbbVie Company 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.