Mayflower Financial Advisors LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,457 shares of the company’s stock after acquiring an additional 283 shares during the period. AbbVie makes up approximately 2.0% of Mayflower Financial Advisors LLC’s holdings, making the stock its 9th largest holding. Mayflower Financial Advisors LLC’s holdings in AbbVie were worth $15,372,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Oliver Lagore Vanvalin Investment Group grew its stake in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares during the period. Align Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $27,000. Red Tortoise LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $27,000. Boulder Wealth Advisors LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $31,000. Finally, My Personal CFO LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. 68.27% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ABBV has been the topic of several analyst reports. StockNews.com assumed coverage on AbbVie in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Barclays boosted their target price on AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Wells Fargo & Company reduced their target price on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, Guggenheim reduced their target price on AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. The company had revenue of $12.23 billion for the quarter, compared to the consensus estimate of $12.23 billion. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.16 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Thursday, July 13th. AbbVie’s dividend payout ratio is currently 139.95%.
Insider Activity at AbbVie
In related news, SVP Elaine K. Sorg sold 15,002 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $160.03, for a total value of $2,400,770.06. Following the completion of the sale, the senior vice president now owns 42,829 shares in the company, valued at approximately $6,853,924.87. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Elaine K. Sorg sold 15,002 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $160.03, for a total value of $2,400,770.06. Following the completion of the sale, the senior vice president now owns 42,829 shares in the company, valued at approximately $6,853,924.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at approximately $5,829,450. The disclosure for this sale can be found here. Insiders sold a total of 32,151 shares of company stock worth $5,187,783 in the last quarter. Corporate insiders own 0.26% of the company’s stock.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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