AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Penbrook Management LLC

Penbrook Management LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 55.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,900 shares of the company’s stock after selling 4,914 shares during the period. Penbrook Management LLC’s holdings in AbbVie were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Country Trust Bank increased its holdings in shares of AbbVie by 123.9% in the first quarter. Country Trust Bank now owns 544 shares of the company’s stock valued at $59,000 after buying an additional 301 shares in the last quarter. NEXT Financial Group Inc raised its stake in AbbVie by 24.9% during the 1st quarter. NEXT Financial Group Inc now owns 23,803 shares of the company’s stock valued at $2,576,000 after purchasing an additional 4,751 shares during the period. Systematic Alpha Investments LLC raised its stake in AbbVie by 14.4% during the 1st quarter. Systematic Alpha Investments LLC now owns 95,989 shares of the company’s stock valued at $10,388,000 after purchasing an additional 12,100 shares during the period. Fort Pitt Capital Group LLC raised its stake in AbbVie by 11.5% during the 1st quarter. Fort Pitt Capital Group LLC now owns 49,198 shares of the company’s stock valued at $5,324,000 after purchasing an additional 5,079 shares during the period. Finally, Tennessee Valley Asset Management Partners raised its stake in AbbVie by 0.7% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 62,672 shares of the company’s stock valued at $6,782,000 after purchasing an additional 424 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Several analysts have issued reports on ABBV shares. Morgan Stanley cut their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. Royal Bank of Canada began coverage on shares of AbbVie in a research note on Wednesday, April 7th. They issued a $135.00 price target on the stock. SVB Leerink upped their price target on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 30th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Tuesday, February 9th. Finally, Mizuho upped their price target on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $115.65.

In other news, SVP Elaine K. Sorg sold 8,440 shares of AbbVie stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $916,668.40. Following the transaction, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at $2,827,661.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the transaction, the chief executive officer now directly owns 450,981 shares in the company, valued at $48,981,046.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,067 shares of company stock worth $21,511,667. Insiders own 0.09% of the company’s stock.

ABBV stock traded up $0.34 during midday trading on Monday, reaching $108.25. The company’s stock had a trading volume of 185,302 shares, compared to its average volume of 7,342,277. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $113.41. The stock has a market cap of $191.04 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The business’s 50-day simple moving average is $106.78 and its 200-day simple moving average is $101.85.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Shareholders 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 dividend on an annualized basis and a yield of 4.80%. AbbVie’s payout ratio is presently 58.17%.

AbbVie Company Profile

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 Behçet'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, 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; 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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