Boothe Investment Group Inc. Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Boothe Investment Group Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 47.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,599 shares of the company’s stock after purchasing an additional 19,911 shares during the quarter. AbbVie makes up about 3.9% of Boothe Investment Group Inc.’s holdings, making the stock its 10th largest position. Boothe Investment Group Inc.’s holdings in AbbVie were worth $6,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ABBV. Norges Bank bought a new position in shares of AbbVie in the fourth quarter valued at approximately $2,070,985,000. Boston Partners lifted its holdings in AbbVie by 1,962.8% during the fourth quarter. Boston Partners now owns 2,881,764 shares of the company’s stock worth $308,781,000 after acquiring an additional 2,742,063 shares during the period. Morgan Stanley lifted its holdings in AbbVie by 19.0% during the fourth quarter. Morgan Stanley now owns 16,336,505 shares of the company’s stock worth $1,750,457,000 after acquiring an additional 2,605,050 shares during the period. BlackRock Inc. lifted its holdings in AbbVie by 2.0% during the fourth quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock worth $13,331,975,000 after acquiring an additional 2,406,847 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in AbbVie by 24.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 11,438,531 shares of the company’s stock worth $1,225,639,000 after acquiring an additional 2,263,374 shares during the period. Institutional investors own 67.49% of the company’s stock.

NYSE:ABBV traded up $1.46 during trading hours on Thursday, hitting $106.67. 98,115 shares of the company’s stock traded hands, compared to its average volume of 7,547,554. The firm has a market cap of $188.25 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a 52 week low of $74.78 and a 52 week high of $113.41. The business’s fifty day simple moving average is $106.59 and its two-hundred day simple moving average is $100.97. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.07. The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm’s quarterly revenue was up 59.2% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. On average, analysts expect 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. This represents a $5.20 annualized dividend and a yield of 4.87%. The ex-dividend date is Wednesday, April 14th. AbbVie’s dividend payout ratio (DPR) is currently 58.17%.

In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of AbbVie 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 owns 26,035 shares of the company’s stock, valued at $2,827,661.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $18,475,972.93. Following the sale, the chief executive officer now directly owns 450,981 shares of the company’s stock, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,067 shares of company stock valued at $21,511,667. Corporate insiders own 0.09% of the company’s stock.

A number of research firms have issued reports on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Tuesday, February 9th. Royal Bank of Canada began coverage on AbbVie in a research report on Wednesday. They issued a $135.00 target price for the company. SVB Leerink raised their target price on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 30th. Mizuho raised their target price on 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. Finally, Morgan Stanley decreased their target price on AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus 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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