AbbVie Inc. (NYSE:ABBV) is Signature Wealth Management Group’s 5th Largest Position


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Signature Wealth Management Group lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 37,333 shares of the company’s stock after selling 304 shares during the quarter. AbbVie comprises 2.4% of Signature Wealth Management Group’s portfolio, making the stock its 5th largest holding. Signature Wealth Management Group’s holdings in AbbVie were worth $4,040,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. OLD Mission Capital LLC purchased a new stake in AbbVie during the third quarter worth approximately $242,000. Great West Life Assurance Co. Can lifted its stake 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 purchasing an additional 55,059 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake 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 purchasing an additional 37,867 shares during the last quarter. Westover Capital Advisors LLC lifted its stake 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 purchasing an additional 136 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake 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 purchasing an additional 279,034 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Shares of NYSE:ABBV traded up $1.02 on Friday, hitting $107.91. The company had a trading volume of 8,207,672 shares, compared to its average volume of 7,433,252. The business has a 50 day moving average of $106.78 and a 200 day moving average of $101.85. AbbVie Inc. has a 52-week low of $79.11 and a 52-week high of $113.41. The company has a market cap of $190.44 billion, a PE ratio of 22.81, a PEG ratio of 1.54 and a beta of 0.84. 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 (NYSE:ABBV) last released its earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.07. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 59.2% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 10.48 EPS for the current 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 paid 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 dividend payout ratio is presently 58.17%.

In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $916,668.40. Following the completion of the sale, the senior vice president now directly owns 26,035 shares in the company, valued at $2,827,661.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 19,514 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.59, for a total value 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. Insiders have sold 198,067 shares of company stock valued at $21,511,667 over the last 90 days. 0.09% of the stock is currently owned by insiders.

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

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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