AbbVie Inc. (NYSE:ABBV) Shares Acquired by Amplius Wealth Advisors LLC

Posted by Defense World Staff on Jul 12th, 2023

Amplius Wealth Advisors LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 61.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,784 shares of the company’s stock after acquiring an additional 1,055 shares during the period. Amplius Wealth Advisors LLC’s holdings in AbbVie were worth $444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Chesapeake Wealth Management lifted its stake in AbbVie by 9.9% during the 1st quarter. Chesapeake Wealth Management now owns 14,382 shares of the company’s stock valued at $2,292,000 after acquiring an additional 1,299 shares during the period. Lodestar Private Asset Management LLC increased its holdings in shares of AbbVie by 2.7% during the 1st quarter. Lodestar Private Asset Management LLC now owns 3,459 shares of the company’s stock valued at $551,000 after purchasing an additional 92 shares in the last quarter. First Merchants Corp increased its holdings in shares of AbbVie by 0.9% during the 1st quarter. First Merchants Corp now owns 23,319 shares of the company’s stock valued at $3,716,000 after purchasing an additional 217 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of AbbVie by 28.9% during the 1st quarter. Foundations Investment Advisors LLC now owns 35,717 shares of the company’s stock valued at $5,692,000 after purchasing an additional 8,013 shares in the last quarter. Finally, Silver Lake Advisory LLC increased its holdings in shares of AbbVie by 0.9% during the 1st quarter. Silver Lake Advisory LLC now owns 52,800 shares of the company’s stock valued at $8,415,000 after purchasing an additional 493 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.8 %

Shares of ABBV stock opened at $135.57 on Wednesday. The company’s 50-day moving average price is $139.29 and its 200-day moving average price is $149.56. 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 market cap of $239.18 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.48 and a beta of 0.56. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly 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 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 analysts’ expectations of $12.23 billion. During the same quarter in the previous year, the company posted $3.16 EPS. The company’s revenue was down 9.7% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 10.92 earnings per share for the current year.

AbbVie Announces Dividend

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 given a $1.48 dividend. The ex-dividend date of this dividend 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 currently 139.95%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Elaine K. Sorg sold 7,499 shares of the stock in a transaction dated 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 owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elaine K. Sorg sold 6,130 shares of the stock in a transaction dated 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 approximately $5,829,450. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of AbbVie in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Morgan Stanley lifted their target price on shares of 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 target on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, Barclays boosted their price target on shares of AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $163.40.

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.