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.
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.
Read More: Pattern Day Trader – What is the PDT Rule?
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.