Crossvault Capital Management LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Crossvault Capital Management LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the first quarter, HoldingsChannel reports. The firm owned 70,862 shares of the company’s stock after purchasing an additional 675 shares during the quarter. AbbVie accounts for approximately 2.7% of Crossvault Capital Management LLC’s holdings, making the stock its 17th biggest position. Crossvault Capital Management LLC’s holdings in AbbVie were worth $7,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clarity Wealth Advisors LLC boosted its stake in AbbVie by 2.8% during the first quarter. Clarity Wealth Advisors LLC now owns 21,872 shares of the company’s stock worth $2,367,000 after acquiring an additional 601 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in AbbVie by 151.8% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 28,256 shares of the company’s stock worth $3,057,000 after acquiring an additional 17,035 shares in the last quarter. Dividend Assets Capital LLC boosted its stake in AbbVie by 4.9% during the first quarter. Dividend Assets Capital LLC now owns 2,149 shares of the company’s stock worth $233,000 after acquiring an additional 100 shares in the last quarter. Park Avenue Securities LLC raised its holdings in AbbVie by 18.2% in the first quarter. Park Avenue Securities LLC now owns 47,755 shares of the company’s stock worth $5,168,000 after buying an additional 7,370 shares during the last quarter. Finally, JJJ Advisors Inc. raised its holdings in AbbVie by 96.7% in the first quarter. JJJ Advisors Inc. now owns 724 shares of the company’s stock worth $78,000 after buying an additional 356 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of the 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 completion of the transaction, the senior vice president now owns 26,035 shares in the company, valued at $2,827,661.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 19,514 shares of the stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the transaction, the executive vice president now owns 19,514 shares of the company’s stock, valued at approximately $2,119,025.26. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock valued at $21,511,667 in the last quarter. 0.09% of the stock is owned by company insiders.

Several brokerages have issued reports on ABBV. SVB Leerink lifted their target price on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Royal Bank of Canada initiated coverage on shares of AbbVie in a report on Wednesday, April 7th. They set a $135.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a report on Monday. Piper Sandler boosted their price objective on shares of AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a report on Friday. Finally, Morgan Stanley decreased their price objective on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, January 28th. One research 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 has an average rating of “Buy” and an average price target of $116.94.

Shares of NYSE:ABBV traded up $0.50 during midday trading on Tuesday, reaching $115.18. 77,145 shares of the company were exchanged, compared to its average volume of 7,254,007. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The business’s fifty day moving average is $107.82 and its two-hundred day moving average is $103.84. AbbVie Inc. has a one year low of $79.11 and a one year high of $115.10. The stock has a market cap of $203.27 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.84 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. AbbVie’s revenue for the quarter was up 50.9% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 10.48 EPS for the current 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 given a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 annualized dividend and a yield of 4.51%. AbbVie’s dividend payout ratio (DPR) is currently 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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