Victrix Investment Advisors Purchases 3,068 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Victrix Investment Advisors boosted its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 53.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,829 shares of the company’s stock after buying an additional 3,068 shares during the quarter. Victrix Investment Advisors’ holdings in AbbVie were worth $1,829,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in AbbVie during the 4th quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $32,000. Pinney & Scofield Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of AbbVie in the first quarter worth approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 0.9%

ABBV opened at $187.06 on Friday. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The business’s 50-day moving average price is $186.03 and its 200-day moving average price is $187.88. The company has a market cap of $330.42 billion, a P/E ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.51%. AbbVie’s dividend payout ratio is presently 279.15%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Bank of America boosted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Get Our Latest Analysis on ABBV

AbbVie Company Profile

(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.

Recommended Stories

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).