AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Regal Investment Advisors LLC

Regal Investment Advisors LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,276 shares of the company’s stock after selling 2,733 shares during the period. AbbVie makes up about 1.2% of Regal Investment Advisors LLC’s holdings, making the stock its 13th biggest position. Regal Investment Advisors LLC’s holdings in AbbVie were worth $13,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Financial Group LLC purchased a new stake in AbbVie during the fourth quarter valued at about $30,000. Maryland Capital Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter valued at approximately $41,000. Bell Investment Advisors Inc purchased a new stake in shares of AbbVie in the 3rd quarter valued at approximately $43,000. West Bancorporation Inc. acquired a new position in AbbVie in the 4th quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in AbbVie during the 3rd quarter worth approximately $51,000. 67.03% of the stock is owned by institutional investors and hedge funds.

In other AbbVie news, EVP Henry O. Gosebruch sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $148.26, for a total transaction of $2,223,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Robert A. Michael sold 43,105 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total value of $6,390,316.25. The disclosure for this sale can be found here. Insiders have sold 304,423 shares of company stock worth $45,925,851 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Several analysts have recently commented on ABBV shares. Cowen raised their target price on AbbVie from $130.00 to $150.00 in a research report on Tuesday, January 18th. Bank of America lifted their target price on shares of AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. Barclays upped their price target on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $165.00 to $180.00 in a research report on Thursday, February 3rd. Finally, Mizuho upped their target price on AbbVie from $154.00 to $166.00 and gave the stock a “buy” rating in a research report on Friday, February 4th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $159.44.

Shares of AbbVie stock traded down $0.79 during midday trading on Friday, hitting $153.50. The company had a trading volume of 6,398,527 shares, compared to its average volume of 7,759,677. AbbVie Inc. has a 1-year low of $105.56 and a 1-year high of $175.91. The business’s 50 day simple moving average is $157.75 and its two-hundred day simple moving average is $140.25. The stock has a market cap of $271.25 billion, a PE ratio of 22.02, a P/E/G ratio of 4.26 and a beta of 0.83. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.70.

AbbVie (NYSE:ABBV – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same period in the prior year, the firm earned $2.95 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 14.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 15th will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, April 13th. AbbVie’s dividend payout ratio (DPR) is presently 80.92%.

AbbVie Profile (Get Rating)

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.

Further Reading