Vista Investment Partners II LLC Has $536,000 Stake in AbbVie Inc. (NYSE:ABBV)

Vista Investment Partners II LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,558 shares of the company’s stock after purchasing an additional 224 shares during the quarter. Vista Investment Partners II LLC’s holdings in AbbVie were worth $536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC grew its holdings in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of AbbVie by 17.4% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of AbbVie in the 4th quarter valued at about $876,000. Finally, Whipplewood Advisors LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $192,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABBV shares. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Trading Down 2.6%

Shares of ABBV stock opened at $181.89 on Friday. The firm has a 50 day moving average price of $186.21 and a two-hundred day moving average price of $187.92. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $321.29 billion, a PE ratio of 77.40, a price-to-earnings-growth ratio of 1.24 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.31 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.61%. AbbVie’s payout ratio is 279.15%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.