MAS Advisors LLC Acquires New Shares in AbbVie Inc. $ABBV

MAS Advisors LLC bought a new position in AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,052 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Abound Financial LLC bought a new stake in AbbVie during the 1st quarter worth approximately $30,000. Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the first quarter worth $35,000. Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new stake in AbbVie during the first quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $209.5410 on Friday. The firm has a market cap of $370.17 billion, a P/E ratio of 99.78, a P/E/G ratio of 1.34 and a beta of 0.50. The firm’s fifty day moving average is $192.45 and its 200 day moving average is $192.81. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66. 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 (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the firm earned $2.65 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Thursday, August 7th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Five analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.95.

Insider Activity at AbbVie

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

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.