Qtron Investments LLC Has $4.62 Million Stock Holdings in AbbVie Inc. $ABBV

Qtron Investments LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,059 shares of the company’s stock after purchasing an additional 624 shares during the quarter. AbbVie accounts for 0.7% of Qtron Investments LLC’s portfolio, making the stock its 22nd largest position. Qtron Investments LLC’s holdings in AbbVie were worth $4,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter worth $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie in the 1st quarter worth $35,000. Pinney & Scofield Inc. acquired a new position in AbbVie in the 4th quarter worth $36,000. Inlight Wealth Management LLC acquired a new position in AbbVie in the 1st quarter worth $42,000. Finally, HWG Holdings LP acquired a new position in AbbVie in the 1st quarter worth $42,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 1.0%

Shares of NYSE:ABBV opened at $206.65 on Monday. The firm has a market cap of $365.06 billion, a P/E ratio of 98.41, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66. The business has a fifty day simple moving average of $191.08 and a 200 day simple moving average of $192.31.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were paid a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.2%. AbbVie’s dividend payout ratio is presently 312.38%.

Analyst Upgrades and Downgrades

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 note on Thursday, August 7th. Morgan Stanley increased their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Raymond James Financial lifted their target price on AbbVie from $227.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Bank of America lifted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $214.95.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 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 transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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.