AbbVie Inc. (NYSE:ABBV) is Bennicas & Associates Inc.’s 5th Largest Position


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Bennicas & Associates Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 41,408 shares of the company’s stock after selling 2,300 shares during the quarter. AbbVie makes up about 2.6% of Bennicas & Associates Inc.’s portfolio, making the stock its 5th largest position. Bennicas & Associates Inc.’s holdings in AbbVie were worth $4,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. OLD Mission Capital LLC purchased a new stake in AbbVie during the third quarter worth about $242,000. Great West Life Assurance Co. Can increased its holdings in AbbVie by 3.0% during the third quarter. Great West Life Assurance Co. Can now owns 1,885,240 shares of the company’s stock worth $165,120,000 after buying an additional 55,059 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in AbbVie by 150.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 63,072 shares of the company’s stock worth $5,525,000 after buying an additional 37,867 shares during the last quarter. Westover Capital Advisors LLC increased its holdings in AbbVie by 1.6% during the third quarter. Westover Capital Advisors LLC now owns 8,606 shares of the company’s stock worth $754,000 after buying an additional 136 shares during the last quarter. Finally, IHT Wealth Management LLC increased its holdings in AbbVie by 606.8% during the third quarter. IHT Wealth Management LLC now owns 325,016 shares of the company’s stock worth $28,468,000 after buying an additional 279,034 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

In other AbbVie news, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at $48,981,046.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 19,514 shares of AbbVie stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the sale, the executive vice president now owns 19,514 shares of the company’s stock, valued at $2,119,025.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,067 shares of company stock valued at $21,511,667. 0.09% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on ABBV. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Tuesday, February 9th. Mizuho increased their target price on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Royal Bank of Canada assumed coverage on shares of AbbVie in a research report on Wednesday, April 7th. They set a $135.00 target price for the company. Morgan Stanley cut their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. Finally, SVB Leerink increased their target price on shares of AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $115.65.

ABBV stock opened at $107.91 on Friday. The firm has a 50 day moving average of $106.78 and a 200-day moving average of $101.85. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. AbbVie Inc. has a 12 month low of $79.11 and a 12 month high of $113.41. The firm has a market capitalization of $190.44 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

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

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 annualized dividend and a yield of 4.82%. AbbVie’s payout ratio is presently 58.17%.

AbbVie Company Profile

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), 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; 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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