AbbVie Inc. (NYSE:ABBV) is AHL Investment Management Inc.’s 10th Largest Position

Posted by Defense World Staff on Jun 25th, 2023

AHL Investment Management Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,554 shares of the company’s stock after selling 584 shares during the quarter. AbbVie accounts for about 3.5% of AHL Investment Management Inc.’s portfolio, making the stock its 10th largest holding. AHL Investment Management Inc.’s holdings in AbbVie were worth $3,754,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group raised its position in AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after buying an additional 93 shares during the last quarter. Align Wealth Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $27,000. Red Tortoise LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $27,000. Boulder Wealth Advisors LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $31,000. Finally, My Personal CFO LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $32,000. 68.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.00, for a total value of $563,200.00. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,660,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,829,450. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,151 shares of company stock valued at $5,187,783. 0.26% of the stock is currently owned by insiders.

AbbVie Trading Down 1.1 %

Shares of ABBV opened at $135.92 on Friday. AbbVie Inc. has a 52-week low of $131.10 and a 52-week high of $168.11. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46. The firm’s fifty day moving average is $144.96 and its two-hundred day moving average is $152.05. The stock has a market cap of $239.80 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58.

AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. The company had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 EPS. Research analysts forecast that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, July 13th. This represents a $5.92 annualized dividend and a dividend yield of 4.36%. AbbVie’s payout ratio is 139.95%.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBV. Morgan Stanley lifted their target price on shares of AbbVie from $178.00 to $181.00 and gave the company an “overweight” rating in a report on Monday, April 10th. Barclays lifted their target price on shares of AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Guggenheim cut their price target on shares of AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, Wells Fargo & Company cut their price target on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Eight equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

About AbbVie

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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.