AbbVie Inc. $ABBV Shares Acquired by Silicon Valley Capital Partners

Silicon Valley Capital Partners increased its position in AbbVie Inc. (NYSE:ABBV) by 10.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 573 shares of the company’s stock after acquiring an additional 56 shares during the period. Silicon Valley Capital Partners’ holdings in AbbVie were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABBV. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% during the fourth 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 raised its position in shares of AbbVie by 72.7% during the fourth 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. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AbbVie by 553.4% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,488 shares of the company’s stock worth $1,331,000 after purchasing an additional 6,342 shares during the period. NorthRock Partners LLC raised its position in shares of AbbVie by 313.7% during the fourth quarter. NorthRock Partners LLC now owns 72,869 shares of the company’s stock worth $12,949,000 after purchasing an additional 55,256 shares during the period. Finally, Nearwater Capital Markets Ltd acquired a new stake in shares of AbbVie during the fourth quarter worth $35,007,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ABBV. Citigroup upped their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Bank of America boosted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.95.

AbbVie Stock Performance

ABBV opened at $211.84 on Thursday. The company has a market cap of $374.23 billion, a PE ratio of 100.88, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The stock has a 50-day moving average of $199.06 and a 200-day moving average of $194.37. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 3.1%. AbbVie’s dividend payout ratio is presently 312.38%.

AbbVie Company Profile

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.