Raab & Moskowitz Asset Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 151.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,256 shares of the company’s stock after purchasing an additional 17,035 shares during the period. AbbVie makes up about 1.2% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its 25th largest holding. Raab & Moskowitz Asset Management LLC’s holdings in AbbVie were worth $3,057,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new position in AbbVie in the fourth quarter valued at $29,000. Alpha DNA Investment Management LLC purchased a new position in AbbVie in the fourth quarter valued at about $33,000. McClarren Financial Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at about $38,000. JJJ Advisors Inc. increased its stake in shares of AbbVie by 260.8% during the 4th quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock worth $39,000 after purchasing an additional 266 shares in the last quarter. Finally, ELM Advisors LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $43,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.
ABBV has been the topic of several analyst reports. Royal Bank of Canada assumed coverage on shares of AbbVie in a research note on Wednesday, April 7th. They set a $135.00 price target on the stock. BMO Capital Markets upped their price target on shares of AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho upped their price target on shares of AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday. SVB Leerink increased their target price on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Finally, Morgan Stanley cut their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $116.94.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 29th. The company reported $2.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.12. The firm had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.84 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business’s quarterly revenue was up 50.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
The company 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. This represents a $5.20 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Wednesday, April 14th. AbbVie’s dividend payout ratio is currently 58.17%.
In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 26,035 shares of the company’s stock, valued at approximately $2,827,661.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the sale, the chief executive officer now directly 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 198,067 shares of company stock valued at $21,511,667 in the last ninety days. 0.09% of the stock is currently owned by insiders.
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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