AbbVie Inc. (NYSE:ABBV) Shares Purchased by Atlas Private Wealth Advisors

Posted by Defense World Staff on Jun 24th, 2023

Atlas Private Wealth Advisors boosted its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,643 shares of the company’s stock after purchasing an additional 193 shares during the quarter. Atlas Private Wealth Advisors’ holdings in AbbVie were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Oliver Lagore Vanvalin Investment Group grew its holdings in 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 buying an additional 93 shares in the last quarter. Align Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $27,000. Red Tortoise LLC purchased a new position in shares of AbbVie during the 4th quarter worth $27,000. Boulder Wealth Advisors LLC purchased a new position in shares of AbbVie during the 4th quarter worth $31,000. Finally, My Personal CFO LLC purchased a new position in shares of AbbVie during the 4th quarter worth $32,000. 68.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Barclays increased their price target on AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. StockNews.com initiated coverage on AbbVie in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Wells Fargo & Company lowered their price target on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Finally, Guggenheim lowered their price target 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.40.

AbbVie Price Performance

ABBV stock opened at $135.92 on Friday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82. The firm has a market capitalization of $239.80 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.53 and a beta of 0.58. The business’s 50-day moving average is $144.96 and its two-hundred day moving average is $152.13. AbbVie Inc. has a 1 year low of $131.10 and a 1 year high of $168.11.

AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) 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 analyst estimates of $12.23 billion. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. AbbVie’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 EPS. Analysts anticipate that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio (DPR) is presently 139.95%.

Insider Transactions at AbbVie

In other news, SVP Elaine K. Sorg sold 15,002 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $160.03, for a total transaction of $2,400,770.06. Following the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at approximately $6,853,924.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Elaine K. Sorg sold 15,002 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $160.03, for a total transaction of $2,400,770.06. Following the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at approximately $6,853,924.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 3,520 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $160.00, for a total value of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,660,320. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,151 shares of company stock valued at $5,187,783. Corporate insiders own 0.26% of the company’s stock.

AbbVie Profile

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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.