Avantax Advisory Services Inc. Boosts Holdings in AbbVie Inc (NYSE:ABBV)

Avantax Advisory Services Inc. increased its position in AbbVie Inc (NYSE:ABBV) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,275 shares of the company’s stock after buying an additional 1,939 shares during the quarter. Avantax Advisory Services Inc.’s holdings in AbbVie were worth $3,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Doyle Wealth Management increased its holdings in shares of AbbVie by 2.2% in the fourth quarter. Doyle Wealth Management now owns 4,948 shares of the company’s stock valued at $438,000 after purchasing an additional 108 shares in the last quarter. Roosevelt Investment Group Inc. lifted its position in AbbVie by 2.7% during the 4th quarter. Roosevelt Investment Group Inc. now owns 4,201 shares of the company’s stock worth $372,000 after buying an additional 110 shares in the last quarter. Waldron Private Wealth LLC increased its stake in shares of AbbVie by 0.4% during the 4th quarter. Waldron Private Wealth LLC now owns 32,475 shares of the company’s stock worth $2,875,000 after purchasing an additional 114 shares during the last quarter. Sawyer & Company Inc grew its stake in AbbVie by 0.5% in the 4th quarter. Sawyer & Company Inc now owns 21,075 shares of the company’s stock valued at $1,866,000 after buying an additional 115 shares during the last quarter. Finally, Dividend Assets Capital LLC grew its stake in AbbVie by 4.2% in the 4th quarter. Dividend Assets Capital LLC now owns 2,929 shares of the company’s stock valued at $259,000 after buying an additional 117 shares during the last quarter. 72.33% of the stock is currently owned by institutional investors.

ABBV traded down $0.90 during midday trading on Monday, hitting $81.94. 2,215,127 shares of the company traded hands, compared to its average volume of 9,417,994. The company’s 50-day moving average is $77.83 and its 200 day moving average is $84.36. AbbVie Inc has a 52 week low of $62.55 and a 52 week high of $97.86. The firm has a market capitalization of $122.33 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.17. The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 165.18%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 EPS. On average, analysts expect that AbbVie Inc will post 9.66 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 5.76%. The ex-dividend date is Tuesday, April 14th. AbbVie’s dividend payout ratio is 52.80%.

In related news, Director Edward J. Rapp acquired 2,875 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average cost of $91.75 per share, with a total value of $263,781.25. Also, VP Brian L. Durkin acquired 2,200 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $68.18 per share, with a total value of $149,996.00. Following the completion of the acquisition, the vice president now owns 15,294 shares in the company, valued at $1,042,744.92. The disclosure for this purchase can be found here. Insiders purchased a total of 8,825 shares of company stock valued at $671,852 over the last three months. 0.09% of the stock is currently owned by insiders.

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Barclays assumed coverage on shares of AbbVie in a research report on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 price target for the company. Royal Bank of Canada upgraded shares of AbbVie from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $79.00 to $93.00 in a research report on Monday, April 20th. UBS Group reduced their price target on shares of AbbVie from $106.00 to $96.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Societe Generale cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday, March 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $96.70.

About AbbVie

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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