Coppell Advisory Solutions Corp. Invests $221,000 in AbbVie Inc. (NYSE:ABBV)

Coppell Advisory Solutions Corp. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,212 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Tidal Investments LLC grew its holdings in shares of AbbVie by 48.9% in the 1st quarter. Tidal Investments LLC now owns 100,029 shares of the company’s stock worth $18,195,000 after acquiring an additional 32,845 shares during the period. Creekmur Asset Management LLC boosted its position in AbbVie by 4.0% during the first quarter. Creekmur Asset Management LLC now owns 8,772 shares of the company’s stock worth $1,597,000 after purchasing an additional 337 shares in the last quarter. California State Teachers Retirement System increased its position in shares of AbbVie by 0.8% in the first quarter. California State Teachers Retirement System now owns 2,873,984 shares of the company’s stock valued at $523,352,000 after buying an additional 22,561 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of AbbVie during the 1st quarter worth $11,902,000. Finally, Meiji Yasuda Life Insurance Co boosted its position in shares of AbbVie by 15.9% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 67,021 shares of the company’s stock worth $12,205,000 after buying an additional 9,198 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.0 %

Shares of ABBV traded down $1.88 during mid-day trading on Friday, hitting $187.83. The company had a trading volume of 2,515,459 shares, compared to its average volume of 5,567,541. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $193.90. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business’s 50-day simple moving average is $169.64 and its 200-day simple moving average is $170.17. The stock has a market cap of $331.68 billion, a PE ratio of 55.77, a P/E/G ratio of 2.43 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.91 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.30%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, Morgan Stanley increased their price objective on AbbVie from $191.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $188.71.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by 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.