Exencial Wealth Advisors LLC Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Exencial Wealth Advisors LLC increased its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,018 shares of the company’s stock after acquiring an additional 3,436 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in AbbVie were worth $9,210,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in AbbVie by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,760,592 shares of the company’s stock worth $2,985,727,000 after purchasing an additional 515,643 shares during the period. Bank of New York Mellon Corp boosted its stake in AbbVie by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,090,468 shares of the company’s stock worth $2,275,029,000 after purchasing an additional 94,954 shares during the period. Capital Research Global Investors boosted its stake in AbbVie by 1.7% in the 3rd quarter. Capital Research Global Investors now owns 19,009,911 shares of the company’s stock worth $2,050,600,000 after purchasing an additional 324,445 shares during the period. Morgan Stanley boosted its stake in AbbVie by 1.1% in the 2nd quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after purchasing an additional 214,425 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in AbbVie by 10.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 12,233,946 shares of the company’s stock worth $1,319,676,000 after purchasing an additional 1,166,720 shares during the period. 67.03% of the stock is owned by institutional investors.

ABBV has been the subject of a number of research reports. Cowen increased their target price on AbbVie from $130.00 to $150.00 in a research report on Tuesday, January 18th. Morgan Stanley increased their target price on AbbVie from $142.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. Wells Fargo & Company increased their target price on AbbVie from $165.00 to $200.00 in a research report on Monday, May 2nd. Barclays raised their price target on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. Finally, Citigroup raised their price target on AbbVie from $155.00 to $170.00 in a research report on Tuesday, March 1st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $159.44.

In related news, EVP Jeffrey Ryan Stewart sold 27,690 shares of AbbVie stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $159.20, for a total transaction of $4,408,248.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $150.81, for a total value of $15,081,000.00. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $22,938,653.43. The disclosure for this sale can be found here. Insiders have sold 304,423 shares of company stock valued at $45,925,851 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

ABBV stock traded down $0.79 during trading on Friday, reaching $153.50. 6,398,527 shares of the company traded hands, compared to its average volume of 7,759,677. AbbVie Inc. has a 12 month low of $105.56 and a 12 month high of $175.91. The business has a 50 day simple moving average of $157.75 and a 200 day simple moving average of $140.25. The company has a market capitalization of $271.25 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 4.26 and a beta of 0.83. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.70 and a current ratio of 0.82.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.02. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 14.06 EPS for the current 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 issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, April 13th. AbbVie’s dividend payout ratio (DPR) is 80.92%.

About AbbVie (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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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