Level Four Advisory Services LLC Has $27.11 Million Holdings in AbbVie Inc. $ABBV

Key Points

• Level Four Advisory Services LLC increased its stake in AbbVie Inc., owning $27.11 million worth of shares, marking a 1.7% rise in their position during the first quarter.
• Institutional investors now hold approximately 70.23% of AbbVie's stock, with several large firms significantly increasing their positions in the company.
• AbbVie recently announced a $1.64 quarterly dividend, translating to an annualized yield of 3.2%, despite a high dividend payout ratio of 312.38%.

Level Four Advisory Services LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,365 shares of the company's stock after buying an additional 2,216 shares during the quarter. AbbVie comprises 1.1% of Level Four Advisory Services LLC's holdings, making the stock its 11th biggest position. Level Four Advisory Services LLC's holdings in AbbVie were worth $27,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steel Grove Capital Advisors LLC increased its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the last quarter. Private Management Group Inc. increased its position in AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after purchasing an additional 54 shares during the last quarter. Connecticut Wealth Management LLC increased its position in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the last quarter. Castle Wealth Management LLC boosted its stake in shares of AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares in the last quarter. Finally, High Falls Advisors Inc boosted its stake in shares of AbbVie by 3.2% during the 1st quarter. High Falls Advisors Inc now owns 1,863 shares of the company's stock worth $390,000 after acquiring an additional 57 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.7840 during mid-day trading on Friday, reaching $210.2840. The stock had a trading volume of 5,516,293 shares, compared to its average volume of 6,667,589. The firm's 50 day simple moving average is $192.84 and its 200 day simple moving average is $192.95. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm has a market cap of $371.48 billion, a PE ratio of 100.14, a P/E/G ratio of 1.34 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the prior year, the business posted $2.65 EPS. AbbVie's revenue was up 6.6% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Bank of America upped their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.