Ellenbecker Investment Group Has $291,000 Stake in AbbVie Inc (NYSE:ABBV)

Ellenbecker Investment Group raised its stake in AbbVie Inc (NYSE:ABBV) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,996 shares of the company’s stock after buying an additional 348 shares during the quarter. Ellenbecker Investment Group’s holdings in AbbVie were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Van Leeuwen & Company LLC grew its holdings in shares of AbbVie by 4.1% during the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock worth $304,000 after buying an additional 130 shares in the last quarter. Integrated Investment Consultants LLC grew its stake in AbbVie by 1.0% in the fourth quarter. Integrated Investment Consultants LLC now owns 12,662 shares of the company’s stock valued at $1,168,000 after purchasing an additional 131 shares in the last quarter. Marathon Capital Management grew its stake in AbbVie by 6.6% in the fourth quarter. Marathon Capital Management now owns 2,516 shares of the company’s stock valued at $231,000 after purchasing an additional 155 shares in the last quarter. Graves Light Private Wealth Management Inc. grew its stake in AbbVie by 2.2% in the first quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock valued at $579,000 after purchasing an additional 155 shares in the last quarter. Finally, Howe & Rusling Inc. grew its stake in AbbVie by 1.0% in the fourth quarter. Howe & Rusling Inc. now owns 17,025 shares of the company’s stock valued at $1,570,000 after purchasing an additional 167 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

In other AbbVie news, EVP William J. Chase acquired 30,400 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roxanne S. Austin acquired 11,500 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average cost of $67.50 per share, with a total value of $776,250.00. Following the completion of the transaction, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.

A number of research firms have weighed in on ABBV. Credit Suisse Group set a $123.00 price target on Hershey and gave the company a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research note on Wednesday, June 26th. Goldman Sachs Group set a $27.00 price target on Melco Resorts & Entertainment and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Citigroup restated a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $94.76.

Shares of ABBV traded down $0.27 during mid-day trading on Tuesday, reaching $67.73. The company’s stock had a trading volume of 7,302,325 shares, compared to its average volume of 7,735,432. AbbVie Inc has a 1-year low of $65.06 and a 1-year high of $100.23. The stock has a market cap of $101.32 billion, a PE ratio of 8.56, a P/E/G ratio of 1.40 and a beta of 0.99. The business’s 50-day moving average price is $73.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.08. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. During the same period last year, the firm posted $1.87 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. On average, analysts forecast that AbbVie Inc will post 8.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.32%. AbbVie’s payout ratio is 54.11%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; 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; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: Coverage Ratio

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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