Lake Street Financial LLC Buys 1,102 Shares of AbbVie Inc. (NYSE:ABBV)

Lake Street Financial LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 13.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,588 shares of the company’s stock after purchasing an additional 1,102 shares during the quarter. Lake Street Financial LLC’s holdings in AbbVie were worth $1,554,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Minot Wealth Management LLC grew its position in AbbVie by 1.2% in the 1st quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock valued at $10,725,000 after acquiring an additional 800 shares during the last quarter. Oldfather Financial Services LLC bought a new position in AbbVie in the 4th quarter valued at $250,000. HHM Wealth Advisors LLC grew its position in AbbVie by 38.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 5,380 shares of the company’s stock valued at $872,000 after acquiring an additional 1,502 shares during the last quarter. Callahan Advisors LLC lifted its holdings in shares of AbbVie by 0.3% in the 1st quarter. Callahan Advisors LLC now owns 34,192 shares of the company’s stock worth $5,543,000 after buying an additional 115 shares during the period. Finally, RB Capital Management LLC lifted its holdings in shares of AbbVie by 3.1% in the 1st quarter. RB Capital Management LLC now owns 9,115 shares of the company’s stock worth $1,478,000 after buying an additional 273 shares during the period. Institutional investors own 67.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ABBV. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. UBS Group lowered their target price on AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets upped their target price on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. Wells Fargo & Company upped their target price on AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. Finally, Atlantic Securities decreased their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $159.29.

Insider Activity

In other news, EVP Henry O. Gosebruch sold 83,960 shares of the 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 transaction, the executive vice president now directly owns 16,623 shares of the company’s stock, valued at $2,576,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $154.45, for a total transaction of $15,445,000.00. Following the transaction, the insider now owns 152,103 shares in the company, valued at $23,492,308.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,761 shares of company stock valued at $55,528,771. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Down 0.3 %

AbbVie stock traded down $0.45 during midday trading on Friday, reaching $138.47. The company’s stock had a trading volume of 167,963 shares, compared to its average volume of 6,025,083. The stock’s 50-day simple moving average is $147.75 and its 200-day simple moving average is $150.05. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. AbbVie Inc. has a 52-week low of $105.56 and a 52-week high of $175.91. The stock has a market capitalization of $244.69 billion, a P/E ratio of 19.68, a PEG ratio of 3.96 and a beta of 0.70.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06. The business 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 revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.11 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s dividend payout ratio is presently 79.89%.

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 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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