LVW Advisors LLC Boosts Holdings in AbbVie Inc (NYSE:ABBV)

LVW Advisors LLC increased its holdings in AbbVie Inc (NYSE:ABBV) by 30.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,723 shares of the company’s stock after acquiring an additional 11,712 shares during the quarter. AbbVie accounts for 1.0% of LVW Advisors LLC’s portfolio, making the stock its 24th largest position. LVW Advisors LLC’s holdings in AbbVie were worth $3,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Arbor Wealth Management LLC purchased a new position in AbbVie during the second quarter valued at approximately $28,000. Lowe Wealth Advisors LLC lifted its holdings in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in AbbVie during the second quarter valued at approximately $33,000. TD Capital Management LLC purchased a new position in AbbVie during the second quarter valued at approximately $33,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in AbbVie by 82.9% during the second quarter. Financial Gravity Wealth Inc. now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 228 shares in the last quarter. 68.22% of the stock is currently owned by institutional investors.

In other AbbVie news, Director Roxanne S. Austin purchased 10,000 shares of AbbVie stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the transaction, the director now owns 62,114 shares of the company’s stock, valued at approximately $4,121,263.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. Insiders bought 183,077 shares of company stock worth $10,705,751 in the last three months. Insiders own 0.08% of the company’s stock.

ABBV has been the topic of several analyst reports. Leerink Swann raised shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and lifted their price target for the company from $87.00 to $90.00 in a report on Thursday, September 26th. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Wednesday, June 26th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Finally, Piper Jaffray Companies lifted their price target on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $89.97.

Shares of ABBV stock traded up $0.81 during mid-day trading on Tuesday, hitting $78.11. The company had a trading volume of 4,362,712 shares, compared to its average volume of 7,524,211. AbbVie Inc has a 52-week low of $62.66 and a 52-week high of $94.98. The stock’s 50 day moving average price is $72.25 and its 200-day moving average price is $73.62. The company has a market capitalization of $113.04 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.56 and a beta of 0.99.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc will post 8.93 earnings per share for the current year.

The business also recently announced a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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