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World Investment Advisors Increases Position in AbbVie Inc. $ABBV

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Key Points

  • World Investment Advisors increased its AbbVie stake by 12% in the fourth quarter, bringing its holdings to 127,623 shares valued at about $26.6 million.
  • AbbVie continues to attract generally positive analyst coverage, with recent price-target hikes and a consensus rating of Moderate Buy; the Street’s average target is $252.90.
  • The company reported strong quarterly results, including $2.65 EPS on $15 billion in revenue, and reaffirmed investor confidence with a quarterly dividend of $1.73 per share yielding about 3.3%.
  • MarketBeat previews the top five stocks to own by June 1st.

World Investment Advisors increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,623 shares of the company's stock after buying an additional 13,698 shares during the quarter. World Investment Advisors' holdings in AbbVie were worth $26,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Eclectic Associates Inc. ADV boosted its stake in shares of AbbVie by 0.8% during the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after acquiring an additional 45 shares in the last quarter. Weil Company Inc. raised its holdings in AbbVie by 2.3% in the 3rd quarter. Weil Company Inc. now owns 2,026 shares of the company's stock valued at $469,000 after acquiring an additional 46 shares during the last quarter. Hardin Capital Partners LLC raised its holdings in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock valued at $759,000 after acquiring an additional 46 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in shares of AbbVie by 10.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company's stock worth $108,000 after buying an additional 46 shares during the last quarter. Finally, Inlet Private Wealth LLC increased its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company's stock worth $3,937,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a research report on Wednesday, January 21st. Morgan Stanley raised their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Royal Bank Of Canada initiated coverage on shares of AbbVie in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 price target for the company. Wall Street Zen raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $223.00 price target on shares of AbbVie in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.90.

View Our Latest Stock Analysis on AbbVie

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

Insider Activity at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares in the company, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 22,381 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the sale, the executive vice president owned 38,137 shares in the company, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.06% of the company's stock.

AbbVie Stock Up 2.5%

Shares of NYSE:ABBV opened at $207.83 on Wednesday. The company has a market cap of $367.20 billion, a P/E ratio of 102.38, a PEG ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a 52 week low of $176.57 and a 52 week high of $244.81. The company has a 50-day moving average price of $211.75 and a 200 day moving average price of $220.44.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 14.32 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, April 15th. AbbVie's payout ratio is currently 340.89%.

About AbbVie

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

Featured Stories

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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