Valmark Advisers Inc. Buys 2,336 Shares of AbbVie Inc. (NYSE:ABBV)

Valmark Advisers Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 78.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,327 shares of the company’s stock after purchasing an additional 2,336 shares during the period. Valmark Advisers Inc.’s holdings in AbbVie were worth $864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castle Financial & Retirement Planning Associates Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $25,000. Intelligent Financial Strategies purchased a new stake in shares of AbbVie in the fourth quarter worth $27,000. Psagot Value Holdings Ltd. Israel increased its stake in shares of AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares in the last quarter. GoalVest Advisory LLC purchased a new stake in shares of AbbVie in the first quarter worth $33,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in shares of AbbVie in the first quarter worth $34,000. 67.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ABBV shares. Piper Sandler reduced their price objective on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Atlantic Securities dropped their target price on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. SVB Leerink began coverage on shares of AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price for the company. 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, August 1st. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price for the company. in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.63.

AbbVie Trading Down 0.2 %

ABBV stock opened at $142.29 on Tuesday. The company has a market capitalization of $251.58 billion, a PE ratio of 20.15, a P/E/G ratio of 4.00 and a beta of 0.70. AbbVie Inc. has a 12 month low of $105.56 and a 12 month high of $175.91. The firm’s 50-day moving average is $146.81 and its 200 day moving average is $150.59. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. The company had revenue of $14.58 billion for 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 158.41%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.11 EPS. On average, research analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 15th were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, July 14th. AbbVie’s dividend payout ratio (DPR) is 79.89%.

Insider Buying and Selling at AbbVie

In other news, Vice Chairman Michael Severino sold 79,801 shares of AbbVie stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total value of $12,041,970.90. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at approximately $22,952,342.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

AbbVie Company Profile

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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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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