TRUE Private Wealth Advisors Has $4.43 Million Position in AbbVie Inc. (NYSE:ABBV)

Financial News Live · Aug 5, 2022 05:02

TRUE Private Wealth Advisors reduced its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 23.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,254 shares of the company's stock after selling 8,833 shares during the period. AbbVie accounts for about 0.6% of TRUE Private Wealth Advisors' portfolio, making the stock its 22nd largest holding. TRUE Private Wealth Advisors' holdings in AbbVie were worth $4,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castle Financial & Retirement Planning Associates Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $25,000. Intelligent Financial Strategies bought a new stake in shares of AbbVie during the 4th quarter worth about $27,000. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of AbbVie by 311.3% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company's stock worth $28,000 after buying an additional 3,300 shares during the period. Steward Financial Group LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $30,000. Finally, GoalVest Advisory LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $33,000. Institutional investors own 67.03% of the company's stock.

Get AbbVie alerts:

AbbVie Stock Down 0.6 %

Shares of ABBV stock traded down $0.89 on Thursday, hitting $140.31. The stock had a trading volume of 82,385 shares, compared to its average volume of 6,007,049. The business has a 50 day moving average of $147.99 and a 200 day moving average of $150.03. The stock has a market cap of $247.94 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 3.94 and a beta of 0.70. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.31 by $0.06. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.11 earnings per share. As a group, analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie's dividend payout ratio is currently 79.89%.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of AbbVie from $161.00 to $174.00 and gave the stock an "outperform" rating in a research note on Monday, April 25th. Daiwa Capital Markets cut shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $150.00 price objective for the company. in a research note on Friday, May 6th. Morgan Stanley dropped their target price on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of AbbVie from $122.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, April 12th. Finally, Barclays dropped their target price on shares of AbbVie from $174.00 to $160.00 and set a "maintains" rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.47.

Insider Activity at AbbVie

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the transaction, the insider now directly owns 152,103 shares of the company's stock, valued at $22,858,038.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares in the company, valued at $2,576,565. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,858,038.84. The disclosure for this sale can be found here. Insiders have sold 463,761 shares of company stock valued at $70,609,771 over the last three months. 0.08% of the stock is owned by corporate insiders.

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.

Get a free copy of the StockNews.com research report on AbbVie (ABBV)
Chipotle Mexican Grill Or Shake Shak? Which Is The Tastier Play
Activision Blizzard Banks On A Flurry Of New Content
Energy Transfer Is A Value Among High-Yield Energy Infrastructure
Devon Energy Looks Attractive if You Look Past the Headlines
3 Low Priced Stocks With Good Growth Prospects

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Get Rating).

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.