Trivium Point Advisory LLC Purchases 899 Shares of AbbVie Inc. $ABBV

Trivium Point Advisory LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,453 shares of the company’s stock after purchasing an additional 899 shares during the period. Trivium Point Advisory LLC’s holdings in AbbVie were worth $1,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its stake in AbbVie by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares during the last quarter. Northern Trust Corp grew its holdings in shares of AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after acquiring an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AbbVie by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after acquiring an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in AbbVie by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock worth $1,972,050,000 after purchasing an additional 45,871 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV opened at $222.93 on Tuesday. The company has a market capitalization of $393.82 billion, a price-to-earnings ratio of 106.16, a PEG ratio of 1.29 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm has a 50-day moving average price of $207.00 and a 200-day moving average price of $195.12. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $225.16.

AbbVie (NYSE:ABBV) last announced its quarterly 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 business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s payout ratio is 312.38%.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. BMO Capital Markets raised their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Cantor Fitzgerald increased their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Evercore ISI lifted their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $223.45.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s 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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.