AbbVie Inc. (NYSE:ABBV) is Herold Advisors Inc.’s 9th Largest Position

Herold Advisors Inc. raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,778 shares of the company’s stock after acquiring an additional 682 shares during the period. AbbVie makes up 1.7% of Herold Advisors Inc.’s investment portfolio, making the stock its 9th largest position. Herold Advisors Inc.’s holdings in AbbVie were worth $6,010,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABBV. Avior Wealth Management LLC grew its stake in AbbVie by 0.3% during the third quarter. Avior Wealth Management LLC now owns 46,525 shares of the company’s stock valued at $6,935,000 after acquiring an additional 129 shares in the last quarter. Founders Financial Securities LLC grew its stake in AbbVie by 9.9% in the 3rd quarter. Founders Financial Securities LLC now owns 4,018 shares of the company’s stock worth $599,000 after buying an additional 362 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in AbbVie by 4.2% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,022 shares of the company’s stock worth $301,000 after buying an additional 82 shares in the last quarter. Mach 1 Financial Group LLC grew its stake in AbbVie by 0.6% in the 3rd quarter. Mach 1 Financial Group LLC now owns 14,611 shares of the company’s stock worth $2,178,000 after buying an additional 84 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in AbbVie by 2.8% in the 3rd quarter. Inscription Capital LLC now owns 15,466 shares of the company’s stock worth $2,305,000 after buying an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 4.6 %

NYSE:ABBV opened at $159.62 on Friday. The company has a fifty day moving average of $174.59 and a 200 day moving average of $160.74. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the business posted $2.46 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.88%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. BMO Capital Markets boosted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

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.