Carolina Wealth Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,862 shares of the company’s stock after purchasing an additional 312 shares during the period. AbbVie accounts for approximately 3.8% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Carolina Wealth Advisors LLC’s holdings in AbbVie were worth $6,512,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ABBV. Oliver Lagore Vanvalin Investment Group grew its stake in AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after acquiring an additional 93 shares in the last quarter. Align Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter valued at about $27,000. Red Tortoise LLC purchased a new stake in AbbVie during the 4th quarter valued at about $27,000. Boulder Wealth Advisors LLC purchased a new stake in AbbVie during the 4th quarter valued at about $31,000. Finally, My Personal CFO LLC purchased a new stake in AbbVie during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 68.27% of the company’s stock.
Insiders Place Their Bets
In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,829,450. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Elaine K. Sorg sold 6,130 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,829,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elaine K. Sorg sold 7,499 shares of the firm’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $161.67, for a total transaction of $1,212,363.33. Following the completion of the sale, the senior vice president now owns 35,330 shares in the company, valued at $5,711,801.10. The disclosure for this sale can be found here. Insiders have sold a total of 32,151 shares of company stock worth $5,187,783 in the last ninety days. 0.26% of the stock is owned by corporate insiders.
Analyst Ratings Changes
AbbVie Price Performance
AbbVie stock opened at $135.92 on Monday. The firm has a market cap of $239.80 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.48 and a beta of 0.58. 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 company’s 50 day moving average is $144.96 and its two-hundred day moving average is $151.96.
AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 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 period in the prior year, the business earned $3.16 EPS. On average, research analysts expect that AbbVie Inc. will post 10.97 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 13th. This represents a $5.92 dividend on an annualized basis and a yield of 4.36%. AbbVie’s dividend payout ratio (DPR) is presently 139.95%.
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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