Everence Capital Management Inc. Invests $4.31 Million in AbbVie Inc. (NYSE:ABBV)


Share on StockTwits

Everence Capital Management Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,777 shares of the company’s stock, valued at approximately $4,305,000.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Joseph P. Lucia & Associates LLC bought a new position in AbbVie during the fourth quarter valued at approximately $29,000. Alpha DNA Investment Management LLC bought a new position in AbbVie during the fourth quarter valued at approximately $33,000. McClarren Financial Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $38,000. JJJ Advisors Inc. raised its position in AbbVie by 260.8% during the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock valued at $39,000 after acquiring an additional 266 shares in the last quarter. Finally, Catalyst Private Wealth LLC bought a new position in AbbVie during the third quarter valued at approximately $42,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on ABBV shares. Morgan Stanley lowered their price target on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. SVB Leerink increased their price target on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday, March 30th. Mizuho increased their price target on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, February 9th. Finally, Royal Bank of Canada started coverage on AbbVie in a report on Wednesday. They set a $135.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and a consensus target price of $115.65.

In other AbbVie news, EVP Timothy J. Richmond sold 19,514 shares of AbbVie stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the completion of the transaction, the executive vice president now directly owns 19,514 shares of the company’s stock, valued at $2,119,025.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Elaine K. Sorg sold 8,440 shares of AbbVie stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.61, for a total value of $916,668.40. Following the transaction, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at $2,827,661.35. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock worth $21,511,667 in the last quarter. Corporate insiders own 0.09% of the company’s stock.

ABBV traded up $1.45 during trading on Thursday, reaching $106.66. 95,680 shares of the company’s stock were exchanged, compared to its average volume of 7,547,554. AbbVie Inc. has a fifty-two week low of $74.78 and a fifty-two week high of $113.41. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The business has a 50 day moving average price of $106.59 and a 200 day moving average price of $100.97. The company has a market capitalization of $188.24 billion, a P/E ratio of 22.24, a PEG ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was up 59.2% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.88%. AbbVie’s dividend payout ratio is currently 58.17%.

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.

Further Reading: How to Profit and Limit Losses With Stop Orders

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).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.