Means Investment CO. Inc. Acquires 189 Shares of AbbVie Inc. (NYSE:ABBV)

Means Investment CO. Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 1st quarter, HoldingsChannel reports. The firm owned 29,708 shares of the company’s stock after purchasing an additional 189 shares during the quarter. AbbVie comprises approximately 0.7% of Means Investment CO. Inc.’s holdings, making the stock its 29th largest position. Means Investment CO. Inc.’s holdings in AbbVie were worth $3,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in AbbVie by 2.0% during the 4th 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 last quarter. Norges Bank acquired a new position in shares of AbbVie in the 4th quarter valued at about $2,070,985,000. Janus Henderson Group PLC lifted its stake in shares of AbbVie by 8.0% in the 4th quarter. Janus Henderson Group PLC now owns 18,332,278 shares of the company’s stock valued at $1,964,269,000 after purchasing an additional 1,363,299 shares during the period. Morgan Stanley lifted its stake in shares of AbbVie by 19.0% in the 4th quarter. Morgan Stanley now owns 16,336,505 shares of the company’s stock valued at $1,750,457,000 after purchasing an additional 2,605,050 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in AbbVie by 24.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 11,438,531 shares of the company’s stock valued at $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.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada initiated coverage on AbbVie in a report on Wednesday. They set a $135.00 price target for the company. Mizuho raised their price target on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink boosted their price objective on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Morgan Stanley lowered their target price on shares of 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 upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Tuesday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. AbbVie has an average rating of “Buy” and an average price target of $115.65.

Shares of NYSE ABBV traded up $1.34 during mid-day trading on Thursday, reaching $106.55. 67,977 shares of the company were exchanged, compared to its average volume of 7,547,554. AbbVie Inc. has a 52 week low of $74.78 and a 52 week high of $113.41. The company’s 50 day moving average price is $106.59 and its 200 day moving average price is $100.97. The stock has a market capitalization of $188.04 billion, a PE ratio of 22.24, a PEG ratio of 1.54 and a beta of 0.84. 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, topping analysts’ consensus estimates of $2.85 by $0.07. The firm had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The company’s revenue for the quarter was up 59.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.88%. AbbVie’s dividend payout ratio (DPR) is currently 58.17%.

In other AbbVie news, EVP Timothy J. Richmond sold 19,514 shares of the firm’s stock in a transaction on Monday, March 1st. The shares were 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 approximately $2,119,025.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Elaine K. Sorg sold 8,440 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $916,668.40. Following the completion of the transaction, 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. In the last quarter, insiders sold 198,067 shares of company stock worth $21,511,667. Company insiders own 0.09% of the company’s stock.

AbbVie 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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