AbbVie Inc. (NYSE:ABBV) Shares Purchased by Pettyjohn Wood & White Inc.

Posted by Defense World Staff on Jul 11th, 2023

Pettyjohn Wood & White Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,055 shares of the company’s stock after acquiring an additional 750 shares during the quarter. AbbVie accounts for 1.9% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 14th largest position. Pettyjohn Wood & White Inc.’s holdings in AbbVie were worth $7,977,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Align Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $27,000. Red Tortoise LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $27,000. Boulder Wealth Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $31,000. My Personal CFO LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $32,000. Finally, VitalStone Financial LLC bought a new stake in shares of AbbVie during the 4th quarter worth $37,000. 68.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other 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 transaction, the senior vice president now directly owns 35,330 shares in the company, valued at $5,829,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $161.67, for a total value of $1,212,363.33. Following the transaction, the senior vice president now directly owns 35,330 shares in the company, valued at $5,711,801.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the senior vice president now owns 35,330 shares in the company, valued at $5,829,450. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABBV. StockNews.com began coverage on AbbVie in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Wells Fargo & Company reduced their price objective on AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Guggenheim reduced their price objective on AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Morgan Stanley raised their price objective on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Finally, Argus cut AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

AbbVie Price Performance

ABBV opened at $134.49 on Tuesday. The stock has a market cap of $237.28 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.48 and a beta of 0.56. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $168.11. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46. The stock has a fifty day moving average price of $139.61 and a 200 day moving average price of $149.76.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.02. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The company had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period last year, the company earned $3.16 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 10.92 EPS for the current fiscal year.

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 issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 13th. This represents a $5.92 annualized dividend and a yield of 4.40%. AbbVie’s dividend payout ratio (DPR) is currently 139.95%.

AbbVie Profile

(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.