Banque Cantonale Vaudoise raised its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 49,981 shares of the company’s stock after purchasing an additional 158 shares during the quarter. Banque Cantonale Vaudoise’s holdings in AbbVie were worth $7,967,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Goepper Burkhardt LLC lifted its holdings in AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after buying an additional 67 shares during the period. Naviter Wealth LLC lifted its holdings in AbbVie by 0.9% in the first quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after buying an additional 68 shares during the period. Sax Wealth Advisors LLC lifted its holdings in AbbVie by 0.9% in the fourth quarter. Sax Wealth Advisors LLC now owns 7,633 shares of the company’s stock valued at $1,233,000 after buying an additional 70 shares during the period. 1900 Wealth Management LLC lifted its holdings in AbbVie by 2.8% in the fourth quarter. 1900 Wealth Management LLC now owns 2,631 shares of the company’s stock valued at $425,000 after buying an additional 71 shares during the period. Finally, Syntal Capital Partners LLC lifted its holdings in AbbVie by 0.9% in the third quarter. Syntal Capital Partners LLC now owns 7,811 shares of the company’s stock valued at $1,048,000 after buying an additional 72 shares during the period. Institutional investors own 68.27% of the company’s stock.
Insider Buying and Selling at AbbVie
In related news, SVP Elaine K. Sorg sold 6,130 shares of AbbVie 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 of the company’s stock, valued at approximately $5,829,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction that occurred 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 sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at approximately $5,711,801.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was 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 $5,829,450. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
AbbVie Stock Performance
AbbVie (NYSE:ABBV – Free Report) last released its earnings results on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The firm had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period last year, the firm earned $3.16 EPS. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.99 EPS for the current year.
AbbVie Announces Dividend
The company 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 $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio is currently 139.95%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Barclays upped their target price on shares of AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. StockNews.com assumed coverage on shares of AbbVie in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, April 5th. Morgan Stanley increased their price objective on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. Finally, Guggenheim lowered their price objective on shares of AbbVie from $172.00 to $171.00 in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.40.
AbbVie 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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