Sonora Investment Management LLC Has $545,000 Stake in AbbVie Inc. (NYSE:ABBV)


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Sonora Investment Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 17.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,035 shares of the company’s stock after selling 1,049 shares during the quarter. Sonora Investment Management LLC’s holdings in AbbVie were worth $545,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC bought a new stake in shares of AbbVie during the fourth quarter worth $29,000. Alpha DNA Investment Management LLC acquired a new position in AbbVie in the fourth quarter valued at $33,000. McClarren Financial Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $38,000. JJJ Advisors Inc. lifted its holdings in AbbVie by 260.8% in the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock valued at $39,000 after buying an additional 266 shares during the period. Finally, ELM Advisors LLC acquired a new position in AbbVie in the fourth quarter valued at $43,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

AbbVie stock traded up $0.08 during trading hours on Tuesday, reaching $114.76. The stock had a trading volume of 17,651 shares, compared to its average volume of 7,254,007. The stock has a market cap of $202.53 billion, a PE ratio of 24.25, a PEG ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $115.10. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81. The company has a fifty day simple moving average of $107.82 and a 200-day simple moving average of $103.84.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 29th. The company reported $2.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.84 billion. During the same period last year, the company posted $2.42 EPS. The company’s quarterly revenue was up 50.9% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be given a $1.30 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.53%. AbbVie’s dividend payout ratio is 58.17%.

ABBV has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Tuesday, February 9th. Mizuho boosted their target price on shares of AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets boosted their target price on shares of AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Royal Bank of Canada assumed coverage on shares of AbbVie in a research report on Wednesday, April 7th. They set a $135.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $116.94.

In related news, SVP Elaine K. Sorg sold 8,440 shares of AbbVie stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $916,668.40. Following the completion of the transaction, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at approximately $2,827,661.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the transaction, the chief executive officer now directly owns 450,981 shares of the company’s stock, valued at $48,981,046.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,067 shares of company stock valued at $21,511,667. 0.09% of the stock is currently owned by corporate insiders.

AbbVie Company Profile

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), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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