Larson Financial Group LLC Raises Position in AbbVie Inc. $ABBV

Larson Financial Group LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,114 shares of the company’s stock after purchasing an additional 2,858 shares during the period. Larson Financial Group LLC’s holdings in AbbVie were worth $6,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of AbbVie by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 12,004,084 shares of the company’s stock valued at $2,779,426,000 after purchasing an additional 493,420 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after purchasing an additional 8,646,424 shares during the last quarter. Amundi lifted its holdings in shares of AbbVie by 15.6% during the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after purchasing an additional 1,414,621 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of AbbVie by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,675,877 shares of the company’s stock valued at $2,241,363,000 after purchasing an additional 408,426 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Perry C. Siatis sold 22,381 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the sale, the executive vice president directly owned 38,137 shares in the company, valued at $8,771,510. This trade represents a 36.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the sale, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of ABBV opened at $209.57 on Tuesday. The business’s 50-day moving average is $209.82 and its two-hundred day moving average is $219.92. The company has a market capitalization of $370.27 billion, a P/E ratio of 103.24, a P/E/G ratio of 0.73 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $180.25 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th were given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group decreased their price objective on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Evercore set a $235.00 target price on AbbVie in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, January 21st. Canaccord Genuity Group raised their target price on AbbVie from $262.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada started coverage on AbbVie in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.