AbbVie Inc. (NYSE:ABBV) Shares Purchased by Lavaca Capital LLC


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Lavaca Capital LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,949 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. AbbVie accounts for approximately 0.9% of Lavaca Capital LLC’s holdings, making the stock its 7th biggest position. Lavaca Capital LLC’s holdings in AbbVie were worth $6,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norway Savings Bank lifted its holdings in AbbVie by 7.2% in the fourth quarter. Norway Savings Bank now owns 6,759 shares of the company’s stock valued at $724,000 after acquiring an additional 452 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie in the fourth quarter valued at $232,000. Tandem Investment Advisors Inc. increased its position in shares of AbbVie by 10.3% in the fourth quarter. Tandem Investment Advisors Inc. now owns 388,932 shares of the company’s stock valued at $41,674,000 after buying an additional 36,236 shares in the last quarter. Coastal Investment Advisors Inc. increased its position in shares of AbbVie by 1.8% in the fourth quarter. Coastal Investment Advisors Inc. now owns 9,904 shares of the company’s stock valued at $1,061,000 after buying an additional 173 shares in the last quarter. Finally, Sheets Smith Wealth Management increased its position in shares of AbbVie by 2.7% in the fourth quarter. Sheets Smith Wealth Management now owns 19,529 shares of the company’s stock valued at $2,093,000 after buying an additional 512 shares in the last quarter. 67.49% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on ABBV. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Morgan Stanley lifted their price objective on AbbVie from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, November 30th. SVB Leerink lifted their price objective on AbbVie from $119.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. Sanford C. Bernstein began coverage on AbbVie in a research report on Tuesday, November 10th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, Mizuho lifted their price objective on AbbVie from $111.00 to $117.00 in a research report on Tuesday, December 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $112.50.

AbbVie stock opened at $112.45 on Thursday. The stock’s 50 day moving average price is $105.61 and its 200 day moving average price is $96.04. AbbVie Inc. has a one year low of $62.55 and a one year high of $113.41. The firm has a market capitalization of $198.53 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. 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 Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.08. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The company had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same period in the prior year, the company posted $2.33 EPS. AbbVie’s quarterly revenue was up 51.9% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. This is a positive change from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, January 14th. AbbVie’s dividend payout ratio is presently 52.80%.

In other news, EVP Timothy J. Richmond sold 51,990 shares of the business’s stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $105.00, for a total value of $5,458,950.00. Following the completion of the sale, the executive vice president now directly owns 51,990 shares in the company, valued at approximately $5,458,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 231,604 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $96.88, for a total value of $22,437,795.52. Over the last ninety days, insiders sold 308,884 shares of company stock worth $30,552,196. 0.09% of the stock is currently owned by corporate insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, 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; 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; 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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