Crossvault Capital Management LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,862 shares of the company’s stock after purchasing an additional 675 shares during the period. AbbVie accounts for approximately 2.7% of Crossvault Capital Management LLC’s holdings, making the stock its 17th largest holding. Crossvault Capital Management LLC’s holdings in AbbVie were worth $7,669,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ABBV. Bogart Wealth LLC grew its holdings in AbbVie by 5.8% during the fourth quarter. Bogart Wealth LLC now owns 34,991 shares of the company’s stock worth $3,749,000 after purchasing an additional 1,919 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of AbbVie by 15.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 225,908 shares of the company’s stock worth $24,206,000 after acquiring an additional 29,528 shares during the period. J. W. Coons Advisors LLC boosted its holdings in shares of AbbVie by 42.3% during the fourth quarter. J. W. Coons Advisors LLC now owns 17,530 shares of the company’s stock worth $1,881,000 after acquiring an additional 5,214 shares during the period. GWM Advisors LLC boosted its holdings in shares of AbbVie by 5.7% during the first quarter. GWM Advisors LLC now owns 40,274 shares of the company’s stock worth $4,359,000 after acquiring an additional 2,157 shares during the period. Finally, Bangor Savings Bank boosted its holdings in shares of AbbVie by 21.5% during the first quarter. Bangor Savings Bank now owns 11,615 shares of the company’s stock worth $1,257,000 after acquiring an additional 2,053 shares during the period. Institutional investors and hedge funds own 67.49% of the company’s stock.
ABBV traded up $0.50 during trading on Tuesday, reaching $115.18. 77,145 shares of the stock traded hands, compared to its average volume of 7,254,007. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $203.27 billion, a PE ratio of 24.25, a P/E/G ratio of 1.54 and a beta of 0.84. The stock’s 50-day moving average is $107.82 and its 200 day moving average is $103.84. AbbVie Inc. has a 12 month low of $79.11 and a 12 month high of $115.10.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.12. The business had revenue of $13.01 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $2.42 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.48 EPS for the current year.
The company also recently declared 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 of this dividend is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.51%. AbbVie’s dividend payout ratio (DPR) is currently 58.17%.
In other news, EVP Timothy J. Richmond sold 19,514 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the senior vice president now directly owns 26,035 shares in the company, valued at approximately $2,827,661.35. The disclosure for this sale can be found here. Insiders have sold a total of 198,067 shares of company stock worth $21,511,667 in the last three months. Insiders own 0.09% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. SVB Leerink boosted their price objective on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Morgan Stanley dropped 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. BMO Capital Markets lifted their price target on shares of AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday. Mizuho lifted their price target on shares of AbbVie from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Monday. Finally, 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 research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $116.94.
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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