Lighthouse Financial Advisors Inc. raised its stake in AbbVie Inc (NYSE:ABBV) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,787 shares of the company’s stock after buying an additional 739 shares during the quarter. AbbVie comprises about 1.1% of Lighthouse Financial Advisors Inc.’s portfolio, making the stock its 20th biggest holding. Lighthouse Financial Advisors Inc.’s holdings in AbbVie were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Capstone Financial Group Inc. purchased a new stake in AbbVie during the second quarter worth about $25,000. Lion Street Advisors LLC purchased a new stake in shares of AbbVie during the first quarter worth approximately $29,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the first quarter worth approximately $34,000. Lake Point Wealth Management increased its stake in shares of AbbVie by 179.4% during the first quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock worth $36,000 after buying an additional 305 shares during the period. Finally, NWK Group Inc. purchased a new stake in shares of AbbVie during the first quarter worth approximately $42,000. 72.40% of the stock is currently owned by institutional investors.
Shares of ABBV stock traded down $0.77 during trading hours on Thursday, hitting $94.74. The stock had a trading volume of 331,388 shares, compared to its average volume of 10,502,634. The firm has a market capitalization of $163.04 billion, a PE ratio of 20.16, a PEG ratio of 1.48 and a beta of 0.83. AbbVie Inc has a twelve month low of $62.55 and a twelve month high of $101.28. The stock’s 50 day moving average is $96.98 and its 200 day moving average is $88.72. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Tuesday, July 14th. AbbVie’s payout ratio is currently 52.80%.
In related news, Vice Chairman Carlos Alban sold 53,325 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now directly owns 137,899 shares of the company’s stock, valued at $13,789,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
A number of research firms recently weighed in on ABBV. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b-” rating in a research note on Friday, June 12th. Royal Bank of Canada upped their target price on shares of AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Bank of America began coverage on AbbVie in a report on Monday, May 18th. They issued a “neutral” rating and a $95.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target on shares of AbbVie in a report on Monday, May 11th. Finally, Mizuho upped their price target on AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $107.00.
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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