AbbVie Inc. (NYSE:ABBV) Shares Acquired by Princeton Global Asset Management LLC


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Princeton Global Asset Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 30,816 shares of the company’s stock after buying an additional 471 shares during the quarter. AbbVie accounts for about 1.2% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding. Princeton Global Asset Management LLC’s holdings in AbbVie were worth $3,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in AbbVie during the fourth quarter worth $227,000. Joseph P. Lucia & Associates LLC acquired a new position in AbbVie during the fourth quarter worth $29,000. CVA Family Office LLC acquired a new position in AbbVie during the third quarter worth $26,000. Harding Loevner LP raised its holdings in AbbVie by 118.4% during the third quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after purchasing an additional 180 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth $38,000. 67.49% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. SVB Leerink lifted their price objective on AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. Mizuho lifted their price objective on AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. Royal Bank of Canada boosted their price target on AbbVie from $129.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. Sanford C. Bernstein started coverage on AbbVie in a report on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 price target for the company. Finally, BMO Capital Markets started coverage on AbbVie in a report on Wednesday, November 18th. They issued an “outperform” rating and a $123.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $114.39.

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the business’s stock in a transaction dated Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the completion of the sale, the executive vice president now owns 76,259 shares of the company’s stock, valued at $8,007,195. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 51,990 shares of the business’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $105.00, for a total value of $5,458,950.00. Following the sale, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at approximately $5,458,950. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Shares of NYSE:ABBV traded down $0.54 during midday trading on Tuesday, reaching $106.52. The company’s stock had a trading volume of 173,321 shares, compared to its average volume of 7,651,642. The firm has a market cap of $188.06 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. AbbVie Inc. has a 1 year low of $62.55 and a 1 year high of $113.41. The business has a 50 day moving average price of $107.18 and a 200 day moving average price of $97.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.07. The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, April 14th. AbbVie’s dividend payout ratio (DPR) is presently 58.17%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. 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; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; 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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