Coppell Advisory Solutions Corp. Acquires New Position in AbbVie Inc. (NYSE:ABBV)

Coppell Advisory Solutions Corp. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,212 shares of the company’s stock, valued at approximately $221,000.

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

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

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

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 EPS. On average, analysts predict that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.30%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

Several research analysts have issued reports on ABBV shares. Truist Financial reissued a “buy” rating and issued a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. 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. Barclays increased their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.71.

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.