Legacy Bridge LLC Purchases Shares of 472 AbbVie Inc. (NYSE:ABBV)

Legacy Bridge LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 472 shares of the company’s stock, valued at approximately $76,000.

Other large investors have also recently bought and sold shares of the company. Centaurus Financial Inc. lifted its holdings in shares of AbbVie by 4.8% during the 3rd quarter. Centaurus Financial Inc. now owns 14,439 shares of the company’s stock worth $1,938,000 after acquiring an additional 667 shares during the last quarter. Dividend Assets Capital LLC lifted its holdings in shares of AbbVie by 7.1% during the 3rd quarter. Dividend Assets Capital LLC now owns 2,166 shares of the company’s stock worth $291,000 after acquiring an additional 143 shares during the last quarter. Cornerstone Capital Inc. lifted its holdings in shares of AbbVie by 0.6% during the 3rd quarter. Cornerstone Capital Inc. now owns 203,397 shares of the company’s stock worth $27,298,000 after acquiring an additional 1,187 shares during the last quarter. Congress Park Capital LLC lifted its holdings in shares of AbbVie by 4.8% during the 3rd quarter. Congress Park Capital LLC now owns 4,937 shares of the company’s stock worth $663,000 after acquiring an additional 225 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of AbbVie during the 3rd quarter worth $5,168,000. 67.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABBV. Morgan Stanley decreased their target price on shares of AbbVie from $182.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, February 10th. SVB Leerink upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $135.00 to $153.00 in a research report on Friday, February 10th. StockNews.com cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. Guggenheim began coverage on shares of AbbVie in a research report on Tuesday, February 28th. They issued a “buy” rating and a $172.00 target price on the stock. Finally, Piper Jaffray Companies lifted their target price on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $161.12.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $149.53, for a total value of $3,738,250.00. Following the transaction, the executive vice president now owns 233,208 shares in the company, valued at $34,871,592.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $9,280,095.48. The disclosure for this sale can be found here. Insiders have sold 159,746 shares of company stock valued at $24,267,450 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $154.22 on Friday. AbbVie Inc. has a 1 year low of $134.09 and a 1 year high of $175.91. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.96 and a quick ratio of 0.84. The company’s 50-day moving average is $151.13 and its 200 day moving average is $150.93. The stock has a market capitalization of $272.88 billion, a P/E ratio of 23.33, a P/E/G ratio of 3.53 and a beta of 0.62.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The company had revenue of $15.12 billion for the quarter, compared to analysts’ expectations of $15.30 billion. During the same quarter in the previous year, the company earned $3.31 earnings per share. AbbVie’s quarterly revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, April 13th. AbbVie’s payout ratio is currently 89.56%.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.