James J. Burns & Company LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,489 shares of the company’s stock after buying an additional 124 shares during the quarter. James J. Burns & Company LLC’s holdings in AbbVie were worth $237,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ABBV. Red Tortoise LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $27,000. Boulder Wealth Advisors LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $31,000. My Personal CFO LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Align Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $27,000. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings 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 acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.
AbbVie Stock Down 1.3 %
Shares of ABBV opened at $135.50 on Friday. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11. The company has a market cap of $239.06 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.50 and a beta of 0.56. 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 50 day simple moving average of $140.00 and a two-hundred day simple moving average of $150.05.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid 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 dividend yield of 4.37%. AbbVie’s payout ratio is presently 139.95%.
Insiders Place Their Bets
In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the business’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 sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,829,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Elaine K. Sorg sold 6,130 shares of the business’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 owns 35,330 shares of the company’s stock, valued at $5,829,450. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction on Monday, April 17th. The stock was 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 directly owns 35,330 shares in the company, valued at approximately $5,711,801.10. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Guggenheim reduced their price target on AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. StockNews.com assumed coverage on AbbVie in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Morgan Stanley raised 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, Barclays raised their price objective on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Eight equities research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.40.
About AbbVie
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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