Delta Asset Management LLC TN Has $1.80 Million Position in AbbVie Inc. (NYSE:ABBV)

Delta Asset Management LLC TN grew its holdings in AbbVie Inc. (NYSE:ABBV) by 56.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,652 shares of the company’s stock after buying an additional 6,025 shares during the quarter. Delta Asset Management LLC TN’s holdings in AbbVie were worth $1,802,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in AbbVie during the fourth quarter worth about $227,000. Joseph P. Lucia & Associates LLC bought a new position in shares of AbbVie during the 4th quarter valued at $29,000. Alpha DNA Investment Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at $33,000. McClarren Financial Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth $38,000. Finally, JJJ Advisors Inc. increased its position in shares of AbbVie by 260.8% during the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock worth $39,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

NYSE:ABBV opened at $114.68 on Tuesday. The stock has a market capitalization of $202.39 billion, a P/E ratio of 24.25, a PEG ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a fifty-two week low of $79.11 and a fifty-two week high of $115.10. The company has a 50 day moving average price of $107.82 and a 200 day moving average price of $103.84. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.12. The business had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.84 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The business’s quarterly revenue was up 50.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. Research analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Wednesday, April 14th. AbbVie’s dividend payout ratio is 58.17%.

In related news, SVP Elaine K. Sorg sold 8,440 shares of the stock in a transaction dated Monday, March 1st. The stock was 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 directly owns 26,035 shares in the company, valued at approximately $2,827,661.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie 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 completion of the sale, the chief executive officer now 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. In the last three months, insiders sold 198,067 shares of company stock worth $21,511,667. Insiders own 0.09% of the company’s stock.

A number of research analysts have weighed in on ABBV shares. Mizuho lifted their price objective on shares of AbbVie from $126.00 to $128.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets boosted their target price on shares of AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley lowered their price target on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. SVB Leerink upped their price objective on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Finally, Royal Bank of Canada began coverage on shares of AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $116.94.

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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