AbbVie Inc. (NYSE:ABBV) Stake Lifted by Linden Thomas Advisory Services LLC

Posted by Defense World Staff on Jul 10th, 2023

Linden Thomas Advisory Services LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,011 shares of the company’s stock after buying an additional 1,194 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in AbbVie were worth $1,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 105.2% in the first quarter. Mizuho Securities Co. Ltd. now owns 1,190 shares of the company’s stock worth $190,000 after purchasing an additional 610 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of AbbVie by 1.0% in the first quarter. Asset Management One Co. Ltd. now owns 797,148 shares of the company’s stock worth $127,041,000 after purchasing an additional 8,015 shares in the last quarter. Berger Financial Group Inc grew its stake in shares of AbbVie by 8.5% in the first quarter. Berger Financial Group Inc now owns 5,739 shares of the company’s stock worth $915,000 after purchasing an additional 449 shares in the last quarter. TriaGen Wealth Management LLC grew its stake in shares of AbbVie by 1.9% in the first quarter. TriaGen Wealth Management LLC now owns 4,043 shares of the company’s stock worth $644,000 after purchasing an additional 77 shares in the last quarter. Finally, Essex Savings Bank lifted its holdings in shares of AbbVie by 1.4% in the first quarter. Essex Savings Bank now owns 12,736 shares of the company’s stock valued at $2,030,000 after buying an additional 177 shares during the period. Institutional investors own 68.27% of the company’s stock.

Insider Buying and Selling

In related news, SVP Elaine K. Sorg sold 6,130 shares of AbbVie stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total value of $1,011,450.00. Following the completion of the sale, the senior vice president now directly owns 35,330 shares in the company, valued at $5,829,450. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Elaine K. Sorg sold 7,499 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 35,330 shares in the company, valued at approximately $5,711,801.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total value of $1,011,450.00. Following the transaction, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,829,450. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $135.50 on Monday. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The firm has a market cap of $239.06 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.47 and a beta of 0.56. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.82 and a current ratio of 0.96. The business has a fifty day moving average of $140.00 and a 200-day moving average of $149.96.

AbbVie (NYSE:ABBV – Free Report) last announced its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. The company had revenue of $12.23 billion during 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%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 10.92 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be given a $1.48 dividend. The ex-dividend date is Thursday, July 13th. This represents a $5.92 dividend on an annualized basis and a yield of 4.37%. AbbVie’s payout ratio is 139.95%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Morgan Stanley upped their price objective on AbbVie from $178.00 to $181.00 and gave the company an “overweight” rating in a report on Monday, April 10th. Wells Fargo & Company cut their price objective on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. StockNews.com began coverage on AbbVie in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Guggenheim cut their price objective on AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Finally, Argus lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

About AbbVie

(Free Report)

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.