Crown Wealth Group LLC Buys 110 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Crown Wealth Group LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,061 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Crown Wealth Group LLC’s holdings in AbbVie were worth $432,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LaFleur & Godfrey LLC lifted its stake in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares during the period. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of AbbVie by 0.3% in the 4th quarter. Flputnam Investment Management Co. now owns 148,164 shares of the company’s stock worth $26,329,000 after purchasing an additional 472 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $45,763,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Get Our Latest Report on ABBV

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Down 2.6%

ABBV stock opened at $181.89 on Friday. The firm has a fifty day moving average price of $186.21 and a 200 day moving average price of $188.01. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $321.29 billion, a PE ratio of 77.40, a price-to-earnings-growth ratio of 1.21 and a beta of 0.50.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the firm posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.61%. AbbVie’s dividend payout ratio is presently 279.15%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).