Carlton Hofferkamp & Jenks Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,897 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in AbbVie were worth $1,214,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of AbbVie during the 4th quarter worth $2,070,985,000. Boston Partners grew its position in AbbVie by 1,962.8% during the fourth quarter. Boston Partners now owns 2,881,764 shares of the company’s stock valued at $308,781,000 after acquiring an additional 2,742,063 shares during the period. Morgan Stanley lifted its stake in shares of AbbVie by 19.0% in the fourth quarter. Morgan Stanley now owns 16,336,505 shares of the company’s stock worth $1,750,457,000 after acquiring an additional 2,605,050 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 2.0% in the fourth quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock valued at $13,331,975,000 after purchasing an additional 2,406,847 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of AbbVie by 24.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 11,438,531 shares of the company’s stock valued at $1,225,639,000 after purchasing an additional 2,263,374 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.
NYSE:ABBV traded up $0.81 on Tuesday, hitting $115.49. The company had a trading volume of 92,293 shares, compared to its average volume of 7,254,007. The stock has a market capitalization of $203.82 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 current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The firm has a 50 day moving average of $107.82 and a two-hundred day moving average of $103.84. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $115.10.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.12. The business 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 firm’s revenue was up 50.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.48 EPS 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 $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, April 14th. AbbVie’s dividend payout ratio (DPR) is currently 58.17%.
ABBV has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research report on Thursday, January 28th. SVB Leerink increased their target price on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. BMO Capital Markets raised their price target on shares of AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada began coverage on shares of AbbVie in a research note on Wednesday, April 7th. They issued a $135.00 target price for the company. Finally, Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. AbbVie has an average rating of “Buy” and an average price target of $116.94.
In other AbbVie news, CEO Richard A. Gonzalez sold 170,113 shares of the firm’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.61, for a total value of $18,475,972.93. Following the completion of the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at $48,981,046.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elaine K. Sorg sold 8,440 shares of the firm’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 $916,668.40. Following the completion of the sale, the senior vice president now owns 26,035 shares of the company’s stock, valued at $2,827,661.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,067 shares of company stock valued at $21,511,667. Corporate insiders own 0.09% of the company’s stock.
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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