PFG Investments LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 112.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,055 shares of the company's stock after acquiring an additional 16,989 shares during the quarter. PFG Investments LLC's holdings in AbbVie were worth $5,837,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the fourth quarter worth about $26,000. IFS Advisors LLC bought a new position in AbbVie in the first quarter worth about $36,000. Redmont Wealth Advisors LLC bought a new position in AbbVie in the first quarter worth about $37,000. Able Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth about $33,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the fourth quarter worth about $37,000. 70.23% of the stock is currently owned by institutional investors.
AbbVie Price Performance
Shares of NYSE:ABBV traded down $7.67 during midday trading on Friday, reaching $159.62. 10,721,740 shares of the company's stock traded hands, compared to its average volume of 5,004,945. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $282.63 billion, a P/E ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a fifty day simple moving average of $174.59 and a two-hundred day simple moving average of $160.82.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business's revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. Equities analysts predict that AbbVie Inc. will post 11.19 EPS for the current fiscal year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie's payout ratio is currently 227.11%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on ABBV shares. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. Barclays boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 27th. BMO Capital Markets boosted their price target on AbbVie from $187.00 to $195.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Finally, William Blair upgraded AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.43.
Get Our Latest Research Report on ABBV
Insider Buying and Selling at AbbVie
In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company's stock.
AbbVie Company Profile
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Free Report)
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.
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