AbbVie Inc. (NYSE:ABBV) Stake Raised by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,716 shares of the company’s stock after acquiring an additional 451 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in AbbVie were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ABBV. Jacobsen Capital Management lifted its holdings in shares of AbbVie by 30.8% during the 3rd quarter. Jacobsen Capital Management now owns 2,649 shares of the company’s stock valued at $395,000 after buying an additional 623 shares during the last quarter. Northstar Asset Management LLC grew its position in AbbVie by 9.2% in the third quarter. Northstar Asset Management LLC now owns 2,375 shares of the company’s stock worth $354,000 after acquiring an additional 200 shares in the last quarter. Compass Wealth Management LLC raised its holdings in shares of AbbVie by 5.7% during the 3rd quarter. Compass Wealth Management LLC now owns 25,129 shares of the company’s stock valued at $3,746,000 after purchasing an additional 1,363 shares in the last quarter. Sawyer & Company Inc lifted its stake in shares of AbbVie by 0.5% in the 3rd quarter. Sawyer & Company Inc now owns 18,384 shares of the company’s stock valued at $2,740,000 after purchasing an additional 100 shares during the last quarter. Finally, Silver Lake Advisory LLC boosted its holdings in AbbVie by 1.2% in the third quarter. Silver Lake Advisory LLC now owns 53,696 shares of the company’s stock worth $8,004,000 after purchasing an additional 631 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial boosted their price objective 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. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.6 %

NYSE:ABBV traded down $1.06 during mid-day trading on Monday, hitting $162.73. The company had a trading volume of 5,834,137 shares, compared to its average volume of 5,663,803. The firm has a market cap of $288.14 billion, a P/E ratio of 48.29, a P/E/G ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The business’s fifty day moving average is $172.81 and its two-hundred day moving average is $161.51. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.