Regent Peak Wealth Advisors LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Regent Peak Wealth Advisors LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,326 shares of the company’s stock after acquiring an additional 301 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in AbbVie were worth $576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $29,000. Alpha DNA Investment Management LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $33,000. McClarren Financial Advisors Inc. purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $38,000. JJJ Advisors Inc. boosted its stake in shares of AbbVie by 260.8% during the 4th quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock valued at $39,000 after buying an additional 266 shares during the last quarter. Finally, ELM Advisors LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Several research firms recently issued reports on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, February 9th. BMO Capital Markets upped their price target on AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday. SVB Leerink upped their price target on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Mizuho increased their target price on AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Sandler increased their target price on AbbVie from $120.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $116.94.

ABBV stock traded up $0.58 during trading hours on Tuesday, hitting $115.26. 137,467 shares of the stock traded hands, compared to its average volume of 7,254,007. The stock has a 50-day simple moving average of $107.82 and a 200 day simple moving average of $103.84. AbbVie Inc. has a one year low of $79.11 and a one year high of $115.10. The company has a market cap of $203.41 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.54 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.12. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The business had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.84 billion. During the same quarter last year, the business posted $2.42 earnings per share. The company’s quarterly revenue was up 50.9% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be given 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 4.51%. AbbVie’s dividend payout ratio (DPR) is 58.17%.

In related news, SVP Elaine K. Sorg sold 8,440 shares of the stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of the 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 completion of the sale, the chief executive officer now directly owns 450,981 shares of the company’s stock, valued at $48,981,046.41. The disclosure for this sale can be found here. Insiders sold a total of 198,067 shares of company stock valued at $21,511,667 in the last quarter. 0.09% of the stock is currently owned by corporate insiders.

AbbVie Company 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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