AdvisorNet Financial Inc raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,181 shares of the company’s stock after acquiring an additional 318 shares during the quarter. AdvisorNet Financial Inc’s holdings in AbbVie were worth $4,457,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its position in shares of AbbVie by 5.8% in the 4th quarter. Bogart Wealth LLC now owns 34,991 shares of the company’s stock worth $3,749,000 after purchasing an additional 1,919 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of AbbVie by 15.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 225,908 shares of the company’s stock worth $24,206,000 after purchasing an additional 29,528 shares in the last quarter. J. W. Coons Advisors LLC boosted its position in shares of AbbVie by 42.3% in the 4th quarter. J. W. Coons Advisors LLC now owns 17,530 shares of the company’s stock worth $1,881,000 after purchasing an additional 5,214 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of AbbVie by 27.2% in the 4th quarter. Sound Income Strategies LLC now owns 42,967 shares of the company’s stock worth $4,604,000 after purchasing an additional 9,185 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in shares of AbbVie by 3.6% in the 4th quarter. Advisors Capital Management LLC now owns 263,577 shares of the company’s stock worth $28,242,000 after purchasing an additional 9,115 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.
In other AbbVie news, EVP Timothy J. Richmond sold 19,514 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.59, for a total value of $2,119,025.26. Following the completion of the sale, the executive vice president now owns 19,514 shares in the company, valued at approximately $2,119,025.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard A. Gonzalez sold 170,113 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $18,475,972.93. Following the completion of the sale, the chief executive officer now owns 450,981 shares of the company’s stock, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. Insiders sold a total of 198,067 shares of company stock valued at $21,511,667 over the last 90 days. 0.09% of the stock is currently owned by company insiders.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.85 by $0.07. The firm had revenue of $13.86 billion during the quarter, compared to analyst estimates of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. AbbVie’s revenue was up 59.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a $1.30 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.88%. AbbVie’s dividend payout ratio (DPR) is 58.17%.
A number of brokerages have recently commented on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, February 9th. Morgan Stanley lowered their price objective on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, January 28th. Mizuho upped their price objective on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink upped their price objective on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Finally, Royal Bank of Canada initiated coverage on AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $115.65.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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