Means Investment CO. Inc. increased its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,708 shares of the company’s stock after purchasing an additional 189 shares during the quarter. AbbVie makes up 0.7% of Means Investment CO. Inc.’s investment portfolio, making the stock its 29th largest holding. Means Investment CO. Inc.’s holdings in AbbVie were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Selective Wealth Management Inc. lifted its stake in shares of AbbVie by 16.3% during the fourth quarter. Selective Wealth Management Inc. now owns 672 shares of the company’s stock valued at $72,000 after acquiring an additional 94 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of AbbVie by 0.5% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 18,259 shares of the company’s stock valued at $1,957,000 after acquiring an additional 97 shares during the period. Aurora Investment Counsel lifted its stake in AbbVie by 1.0% in the third quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock valued at $941,000 after buying an additional 98 shares during the period. Kalos Management Inc. lifted its stake in AbbVie by 3.1% in the fourth quarter. Kalos Management Inc. now owns 3,247 shares of the company’s stock valued at $344,000 after buying an additional 98 shares during the period. Finally, Central Bank & Trust Co. lifted its stake in AbbVie by 10.7% in the fourth quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock valued at $111,000 after buying an additional 100 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie stock traded up $1.34 during trading hours on Thursday, hitting $106.55. The company’s stock had a trading volume of 67,977 shares, compared to its average volume of 7,547,554. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81. The company has a market capitalization of $188.04 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a 12 month low of $74.78 and a 12 month high of $113.41. The stock has a 50 day moving average of $106.59 and a 200 day moving average of $100.97.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.07. The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. AbbVie’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. Equities analysts expect that AbbVie Inc. will post 10.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.88%. AbbVie’s payout ratio is presently 58.17%.
Several equities analysts have weighed in on ABBV shares. Royal Bank of Canada started coverage on AbbVie in a research note on Wednesday. They issued a $135.00 target price on the stock. Mizuho increased their target price on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink increased their target price on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Tuesday, February 9th. Finally, Morgan Stanley cut their target price on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.65.
In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $916,668.40. Following the completion of the transaction, the senior vice president now directly owns 26,035 shares in the company, valued at $2,827,661.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 19,514 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.59, for a total value of $2,119,025.26. Following the completion of the transaction, the executive vice president now owns 19,514 shares of the company’s stock, valued at $2,119,025.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,067 shares of company stock valued at $21,511,667. 0.09% of the stock is owned by corporate insiders.
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 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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