Brown Advisory Inc. Has $130.44 Million Stake in AbbVie Inc. (NYSE:ABBV)

Brown Advisory Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857,143 shares of the company’s stock after purchasing an additional 10,846 shares during the period. Brown Advisory Inc.’s holdings in AbbVie were worth $130,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meridian Wealth Advisors LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at $212,000. Pinnacle Associates Ltd. increased its stake in shares of AbbVie by 3.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 56,955 shares of the company’s stock valued at $7,712,000 after buying an additional 2,076 shares during the period. Valmark Advisers Inc. increased its stake in shares of AbbVie by 7.5% in the 4th quarter. Valmark Advisers Inc. now owns 2,991 shares of the company’s stock valued at $405,000 after buying an additional 208 shares during the period. TrueWealth Advisors LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at $233,000. Finally, Integral Health Asset Management LLC grew its stake in shares of AbbVie by 42.9% during the fourth quarter. Integral Health Asset Management LLC now owns 50,000 shares of the company’s stock worth $6,770,000 after purchasing an additional 15,000 shares during the period. 67.03% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV stock opened at $138.04 on Friday. The business’s 50-day moving average price is $147.52 and its two-hundred day moving average price is $150.06. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The firm has a market cap of $243.93 billion, a PE ratio of 19.55, a P/E/G ratio of 3.90 and a beta of 0.70. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. AbbVie had a return on equity of 157.31% and a net margin of 22.03%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.11 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a $1.41 dividend. The ex-dividend date is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.09%. AbbVie’s dividend payout ratio (DPR) is 79.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Barclays lifted their price objective on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Wells Fargo & Company lifted their price objective on AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. Piper Sandler decreased their price objective on AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. Finally, The Goldman Sachs Group lifted their price objective on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.50.

Insider Activity

In related news, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at $2,576,565. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Vice Chairman Michael Severino sold 79,801 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $150.90, for a total value of $12,041,970.90. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $22,952,342.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at $2,576,565. The disclosure for this sale can be found here. Insiders have sold a total of 363,761 shares of company stock worth $55,528,771 over the last three months. Corporate insiders own 0.08% of the company’s stock.

About AbbVie

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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 Beh├žet'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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