Nations Financial Group Inc. IA ADV Purchases 19,021 Shares of AbbVie Inc. (NYSE:ABBV)

Nations Financial Group Inc. IA ADV boosted its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 139.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,659 shares of the company’s stock after buying an additional 19,021 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in AbbVie were worth $4,422,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABBV. BlackRock Inc. raised its holdings in AbbVie by 3.5% during the 3rd quarter. BlackRock Inc. now owns 126,839,439 shares of the company’s stock worth $13,682,169,000 after purchasing an additional 4,247,445 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $272,868,000. Arrowstreet Capital Limited Partnership increased its stake in shares of AbbVie by 1,661.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,912,992 shares of the company’s stock valued at $206,354,000 after acquiring an additional 1,804,393 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of AbbVie by 183.7% in the 3rd quarter. Renaissance Technologies LLC now owns 2,070,894 shares of the company’s stock valued at $223,387,000 after acquiring an additional 1,340,970 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of AbbVie by 10.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 12,233,946 shares of the company’s stock valued at $1,319,676,000 after acquiring an additional 1,166,720 shares during the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.

In other news, Vice Chairman Robert A. Michael sold 43,105 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $148.25, for a total value of $6,390,316.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Henry O. Gosebruch sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $148.26, for a total value of $2,223,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 104,423 shares of company stock valued at $15,816,851. 0.08% of the stock is currently owned by insiders.

NYSE:ABBV traded up $1.92 during trading hours on Tuesday, reaching $152.88. 71,120 shares of the stock were exchanged, compared to its average volume of 8,023,891. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.70. The firm has a 50 day moving average of $157.51 and a 200 day moving average of $139.45. The stock has a market cap of $270.03 billion, a PE ratio of 21.93, a PEG ratio of 4.28 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a return on equity of 166.34% and a net margin of 22.00%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same quarter in the prior year, the firm posted $2.95 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 14.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, April 13th. AbbVie’s payout ratio is presently 80.92%.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on AbbVie from $165.00 to $180.00 in a research note on Thursday, February 3rd. Mizuho upped their price target on AbbVie from $154.00 to $166.00 and gave the company a “buy” rating in a research note on Friday, February 4th. Cowen upped their price target on AbbVie from $130.00 to $150.00 in a research note on Tuesday, January 18th. Bank of America upped their price target on AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. Finally, Barclays boosted their price objective on AbbVie from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $159.44.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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