AbbVie Inc. (NYSE:ABBV) Shares Acquired by Park Avenue Securities LLC

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Park Avenue Securities LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 18.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,755 shares of the company’s stock after purchasing an additional 7,370 shares during the quarter. Park Avenue Securities LLC’s holdings in AbbVie were worth $5,168,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ABBV. OLD Mission Capital LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $242,000. Schonfeld Strategic Advisors LLC increased its stake in AbbVie by 150.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 63,072 shares of the company’s stock valued at $5,525,000 after purchasing an additional 37,867 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in AbbVie during the third quarter worth $106,000. Red Spruce Capital LLC grew its holdings in AbbVie by 2.3% in the fourth quarter. Red Spruce Capital LLC now owns 41,245 shares of the company’s stock valued at $4,419,000 after purchasing an additional 930 shares during the last quarter. Finally, First Financial Bank Trust Division acquired a new position in shares of AbbVie during the 4th quarter worth $454,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Shares of NYSE ABBV traded up $0.90 during mid-day trading on Tuesday, hitting $115.58. The company had a trading volume of 48,681 shares, compared to its average volume of 7,254,007. The stock has a market cap of $203.98 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.54 and a beta of 0.84. The firm’s 50 day simple moving average is $107.82 and its two-hundred day simple moving average is $103.84. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81. 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 data on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $12.84 billion. During the same period last year, the firm posted $2.42 EPS. AbbVie’s quarterly revenue was up 50.9% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current year.

The firm 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 is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.50%. AbbVie’s dividend payout ratio (DPR) is presently 58.17%.

In related news, CEO Richard A. Gonzalez sold 170,113 shares of the company’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the transaction, the chief executive officer now directly owns 450,981 shares of the company’s stock, valued at $48,981,046.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 19,514 shares of the business’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 transaction of $2,119,025.26. Following the transaction, the executive vice president now directly owns 19,514 shares in the company, valued at $2,119,025.26. The disclosure for this sale can be found here. Insiders sold a total of 198,067 shares of company stock valued at $21,511,667 in the last quarter. 0.09% of the stock is currently owned by insiders.

Several brokerages have issued reports on ABBV. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, February 9th. Piper Sandler boosted their price target on AbbVie from $120.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada started coverage on AbbVie in a research 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 research report on Monday. Finally, SVB Leerink raised their target price on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $116.94.

AbbVie 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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