AbbVie Inc. (NYSE:ABBV) Stake Boosted by Woodstock Corp


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Woodstock Corp raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,539 shares of the company’s stock after purchasing an additional 1,215 shares during the period. AbbVie comprises about 1.5% of Woodstock Corp’s portfolio, making the stock its 22nd largest holding. Woodstock Corp’s holdings in AbbVie were worth $11,746,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Selective Wealth Management Inc. grew its position in shares of AbbVie by 16.3% during the 4th quarter. Selective Wealth Management Inc. now owns 672 shares of the company’s stock valued at $72,000 after buying an additional 94 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of AbbVie by 0.5% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 18,259 shares of the company’s stock worth $1,957,000 after purchasing an additional 97 shares during the period. Aurora Investment Counsel lifted its holdings in shares of AbbVie by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock worth $941,000 after purchasing an additional 98 shares during the last quarter. Kalos Management Inc. lifted its holdings in shares of AbbVie by 3.1% in the 4th quarter. Kalos Management Inc. now owns 3,247 shares of the company’s stock worth $344,000 after purchasing an additional 98 shares during the last quarter. Finally, Central Bank & Trust Co. boosted its position in AbbVie by 10.7% during the 4th quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock valued at $111,000 after purchasing an additional 100 shares during the period. 67.49% of the stock is currently owned by institutional investors.

In other news, CEO Richard A. Gonzalez sold 170,113 shares of the business’s 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 sale, the chief executive officer now owns 450,981 shares in the company, valued at $48,981,046.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Elaine K. Sorg sold 8,440 shares of the business’s 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 $916,668.40. Following the sale, the senior vice president now owns 26,035 shares in the company, valued at approximately $2,827,661.35. The disclosure for this sale can be found here. Insiders sold a total of 198,067 shares of company stock worth $21,511,667 over the last quarter. Insiders own 0.09% of the company’s stock.

Shares of NYSE ABBV traded up $0.80 during midday trading on Thursday, reaching $106.01. The company’s stock had a trading volume of 40,407 shares, compared to its average volume of 7,547,554. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The company has a 50 day moving average price of $106.59 and a 200 day moving average price of $100.97. AbbVie Inc. has a one year low of $74.78 and a one year high of $113.41. The company has a market cap of $187.09 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last released its earnings results on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, topping 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 business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the previous year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.91%. AbbVie’s payout ratio is currently 58.17%.

Several equities analysts have recently issued reports on ABBV shares. SVB Leerink boosted their price target on shares of 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 shares of AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. Royal Bank of Canada initiated coverage on shares of AbbVie in a research note on Wednesday. They set a $135.00 target price for the company. Finally, Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Tuesday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $115.65.

About AbbVie

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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