Sonora Investment Management LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 17.2% during the first quarter, HoldingsChannel reports. The firm owned 5,035 shares of the company’s stock after selling 1,049 shares during the period. Sonora Investment Management LLC’s holdings in AbbVie were worth $545,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ABBV. Selective Wealth Management Inc. increased its holdings in AbbVie by 16.3% during the 4th quarter. Selective Wealth Management Inc. now owns 672 shares of the company’s stock valued at $72,000 after purchasing an additional 94 shares in the last quarter. Cottage Street Advisors LLC boosted its position in AbbVie by 2.5% in the 1st quarter. Cottage Street Advisors LLC now owns 3,847 shares of the company’s stock valued at $416,000 after buying an additional 94 shares during the last quarter. Financial Sense Advisors Inc. boosted its position in shares of AbbVie by 0.9% in the 1st quarter. Financial Sense Advisors Inc. now owns 10,618 shares of the company’s stock worth $1,149,000 after purchasing an additional 94 shares during the last quarter. Nachman Norwood & Parrott Inc boosted its position in shares of AbbVie by 0.3% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 27,623 shares of the company’s stock worth $2,989,000 after purchasing an additional 96 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its position in shares of AbbVie by 0.5% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 18,259 shares of the company’s stock worth $1,957,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.
ABBV traded up $0.08 during trading on Tuesday, hitting $114.76. 17,651 shares of the stock traded hands, compared to its average volume of 7,254,007. The business has a 50 day moving average price of $107.82 and a 200 day moving average price of $103.84. The company has a market cap of $202.53 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.54 and a beta of 0.84. 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 twelve month low of $79.11 and a twelve month high of $115.10.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 29th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.12. The company had revenue of $13.01 billion during the quarter, compared to the consensus estimate of $12.84 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The company’s revenue for the quarter was up 50.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.53%. AbbVie’s payout ratio is 58.17%.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, February 9th. SVB Leerink lifted their target price on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Morgan Stanley lowered their target price on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, January 28th. Royal Bank of Canada assumed coverage on AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 target price on the stock. Finally, BMO Capital Markets boosted their price target on AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $116.94.
In related news, SVP Elaine K. Sorg sold 8,440 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $916,668.40. Following the completion of the sale, the senior vice president now directly owns 26,035 shares in the company, valued at $2,827,661.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. Insiders sold 198,067 shares of company stock valued at $21,511,667 over the last 90 days. 0.09% of the stock is currently owned by company insiders.
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 BehÃ§et'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, waldenstrÃ¶m'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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