Sound Income Strategies LLC Has $16.78 Million Stake in AbbVie Inc. (NYSE:ABBV)

Sound Income Strategies LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,796 shares of the company’s stock after purchasing an additional 10,324 shares during the period. AbbVie makes up about 2.1% of Sound Income Strategies LLC’s portfolio, making the stock its 11th biggest holding. Sound Income Strategies LLC’s holdings in AbbVie were worth $16,775,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AbbVie by 1.6% in the third quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after buying an additional 2,442,663 shares in the last quarter. State Street Corp raised its holdings in AbbVie by 0.5% in the 3rd quarter. State Street Corp now owns 77,486,317 shares of the company’s stock valued at $10,399,439,000 after acquiring an additional 366,695 shares in the last quarter. Legal & General Group Plc lifted its position in shares of AbbVie by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 12,530,360 shares of the company’s stock valued at $1,919,162,000 after acquiring an additional 476,257 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of AbbVie by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,011,386 shares of the company’s stock worth $1,686,504,000 after purchasing an additional 938,091 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AbbVie by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock worth $1,443,588,000 after purchasing an additional 176,026 shares during the period. 67.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, SVP Carrie C. Strom sold 28,541 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $151.04, for a total transaction of $4,310,832.64. Following the completion of the sale, the senior vice president now owns 37,921 shares of the company’s stock, valued at approximately $5,727,587.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Carrie C. Strom sold 28,541 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $151.04, for a total value of $4,310,832.64. Following the transaction, the senior vice president now directly owns 37,921 shares of the company’s stock, valued at approximately $5,727,587.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of AbbVie stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The disclosure for this sale can be found here. Insiders have sold a total of 159,746 shares of company stock valued at $24,267,450 over the last ninety days. 0.08% of the stock is owned by company insiders.

AbbVie Trading Down 0.7 %

Shares of NYSE ABBV opened at $154.22 on Friday. The firm has a 50 day moving average price of $151.13 and a two-hundred day moving average price of $150.93. The stock has a market cap of $272.88 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 3.50 and a beta of 0.62. AbbVie Inc. has a 52-week low of $134.09 and a 52-week high of $175.91. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96.

AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. AbbVie had a return on equity of 154.52% and a net margin of 20.39%. AbbVie’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.31 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 11 EPS for the current year.

AbbVie Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Piper Jaffray Companies increased their price objective on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. Atlantic Securities reduced their price target on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Friday, February 10th. BMO Capital Markets cut their target price on AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. Morgan Stanley lowered their price target on AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a report on Friday, February 10th. Finally, Piper Sandler raised their price objective on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $161.12.

About AbbVie

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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.