Glassy Mountain Advisors Inc. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Glassy Mountain Advisors Inc. bought a new position in AbbVie Inc. (NYSE:ABBV – Get Rating) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 422 shares of the company’s stock, valued at approximately $68,000.

Other large investors have also recently made changes to their positions in the company. O Dell Group LLC grew its stake in shares of AbbVie by 108.7% in the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Align Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth approximately $27,000. Oliver Lagore Vanvalin Investment Group grew its stake in shares of AbbVie by 85.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after acquiring an additional 93 shares during the period. Activest Wealth Management bought a new stake in shares of AbbVie in the third quarter worth approximately $31,000. Finally, Heritage Wealth Management LLC bought a new stake in AbbVie during the second quarter valued at approximately $37,000. 67.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. BMO Capital Markets cut their target price on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Atlantic Securities cut their target price on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. SVB Leerink upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $135.00 to $153.00 in a research report on Friday, February 10th. StockNews.com lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. Finally, Guggenheim initiated coverage on shares of AbbVie in a research report on Tuesday, February 28th. They set a “buy” rating and a $172.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $161.12.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $154.22 on Friday. AbbVie Inc. has a 1-year low of $134.09 and a 1-year high of $175.91. The firm’s 50 day simple moving average is $151.13 and its two-hundred day simple moving average is $150.93. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.96 and a quick ratio of 0.84. The company has a market capitalization of $272.88 billion, a P/E ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62.

AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The firm had revenue of $15.12 billion for the quarter, compared to the consensus estimate of $15.30 billion. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, April 13th. AbbVie’s dividend payout ratio (DPR) is presently 89.56%.

Insider Transactions at AbbVie

In other news, SVP Elaine K. Sorg sold 15,003 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total value of $2,325,465.00. Following the transaction, the senior vice president now owns 42,829 shares of the company’s stock, valued at $6,638,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Roxanne S. Austin sold 10,000 shares of the company’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the sale, the director now owns 40,705 shares of the company’s stock, valued at $6,126,102.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Elaine K. Sorg sold 15,003 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the sale, the senior vice president now directly owns 42,829 shares in the company, valued at approximately $6,638,495. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,746 shares of company stock valued at $24,267,450. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.