Tectonic Advisors LLC Has $1.48 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Tectonic Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,146 shares of the company’s stock after buying an additional 1,161 shares during the quarter. Tectonic Advisors LLC’s holdings in AbbVie were worth $1,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proffitt & Goodson Inc. boosted its holdings in AbbVie by 34.6% in the 1st quarter. Proffitt & Goodson Inc. now owns 1,191 shares of the company’s stock valued at $193,000 after purchasing an additional 306 shares during the period. Banque Cantonale Vaudoise boosted its holdings in AbbVie by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 59,133 shares of the company’s stock valued at $9,584,000 after purchasing an additional 4,667 shares during the period. Capital Square LLC bought a new stake in AbbVie in the 1st quarter valued at $227,000. Lansing Street Advisors bought a new stake in AbbVie in the 1st quarter valued at $958,000. Finally, Wolff Wiese Magana LLC boosted its holdings in AbbVie by 0.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 30,453 shares of the company’s stock valued at $4,937,000 after purchasing an additional 83 shares during the period. 67.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Wells Fargo & Company raised their price objective on shares of AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. UBS Group reduced their price objective on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday. SVB Leerink began coverage on shares of AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective for the company. Finally, Piper Sandler reduced their price objective on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.29.

AbbVie Price Performance

ABBV traded up $0.35 during midday trading on Friday, hitting $139.27. The company had a trading volume of 80,023 shares, compared to its average volume of 6,025,083. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. The company has a market capitalization of $246.11 billion, a PE ratio of 19.68, a P/E/G ratio of 3.96 and a beta of 0.70. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The firm’s 50-day simple moving average is $147.75 and its 200-day simple moving average is $150.05.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.06. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.11 EPS. Equities research analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Thursday, July 14th. AbbVie’s dividend payout ratio is 79.89%.

Insider Transactions at AbbVie

In other news, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares in the company, valued at approximately $2,576,565. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,858,038.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the transaction, the executive vice president now owns 16,623 shares of the company’s stock, valued at approximately $2,576,565. The disclosure for this sale can be found here. Insiders sold a total of 363,761 shares of company stock worth $55,528,771 in the last quarter. 0.08% of the stock is owned by company insiders.

AbbVie Company Profile

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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), and 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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