Ponta Wealth Partners LLC Makes New Investment in AbbVie Inc. $ABBV

Ponta Wealth Partners LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,163 shares of the company’s stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Brighton Jones LLC increased its stake in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock worth $3,056,000 after purchasing an additional 789 shares in the last quarter. Ieq Capital LLC increased its position in shares of AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after purchasing an additional 5,274 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of AbbVie by 117.3% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after purchasing an additional 612,702 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Perry C. Siatis sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares of the company’s stock, valued at $619,868.24. This trade represents a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday, April 30th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, William Blair reissued an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.90.

Read Our Latest Analysis on AbbVie

AbbVie Price Performance

Shares of NYSE:ABBV opened at $205.14 on Thursday. The business’s fifty day moving average price is $213.69 and its two-hundred day moving average price is $221.19. AbbVie Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $244.81. The stock has a market capitalization of $362.72 billion, a price-to-earnings ratio of 101.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 15th. AbbVie’s dividend payout ratio is currently 340.89%.

More AbbVie News

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About AbbVie

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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