Intercontinental Wealth Advisors LLC Grows Position in AbbVie Inc (NYSE:ABBV)

Intercontinental Wealth Advisors LLC raised its position in AbbVie Inc (NYSE:ABBV) by 81.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,860 shares of the company’s stock after purchasing an additional 2,187 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in AbbVie were worth $353,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Portfolio Solutions LLC purchased a new position in AbbVie in the fourth quarter worth about $46,000. Smith Chas P & Associates PA Cpas raised its holdings in AbbVie by 72.8% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 4,431 shares of the company’s stock worth $408,000 after buying an additional 1,867 shares during the last quarter. FDx Advisors Inc. raised its holdings in AbbVie by 497.1% in the fourth quarter. FDx Advisors Inc. now owns 392,156 shares of the company’s stock worth $36,153,000 after buying an additional 326,475 shares during the last quarter. Greenleaf Trust raised its holdings in AbbVie by 12.5% in the fourth quarter. Greenleaf Trust now owns 38,830 shares of the company’s stock worth $3,580,000 after buying an additional 4,324 shares during the last quarter. Finally, Bank of The West raised its holdings in AbbVie by 3.2% in the fourth quarter. Bank of The West now owns 56,957 shares of the company’s stock worth $5,251,000 after buying an additional 1,769 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.

Shares of ABBV stock traded up $1.44 during trading hours on Friday, reaching $64.42. The company had a trading volume of 396,353 shares, compared to its average volume of 10,092,156. The business has a fifty day moving average price of $68.63 and a 200-day moving average price of $76.58. AbbVie Inc has a one year low of $62.66 and a one year high of $100.23. The firm has a market cap of $96.12 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period in the previous year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc will post 8.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.64%. AbbVie’s dividend payout ratio (DPR) is 54.11%.

Several research analysts have issued reports on ABBV shares. Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the stock a “sell” rating in a report on Friday, April 26th. ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann raised shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a report on Wednesday, June 26th. Finally, Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. AbbVie currently has an average rating of “Hold” and a consensus price target of $92.05.

In other AbbVie news, EVP William J. Chase bought 30,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the transaction, the executive vice president now owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin bought 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the transaction, the director now directly owns 52,114 shares of the company’s stock, valued at approximately $3,517,695. The disclosure for this purchase can be found here. Insiders have purchased 136,900 shares of company stock valued at $9,126,370 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; 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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