Wayfinding Financial LLC Invests $1.13 Million in AbbVie Inc. (NYSE:ABBV)

Wayfinding Financial LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,339 shares of the company’s stock, valued at approximately $1,126,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $1,190,951,000. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Boston Partners lifted its stake in shares of AbbVie by 35.9% during the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after buying an additional 1,503,875 shares in the last quarter. State Street Corp grew its stake in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of AbbVie by 26,693.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after acquiring an additional 1,172,362 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $211.54 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a 50 day moving average of $193.80 and a 200 day moving average of $188.64. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $373.44 billion, a P/E ratio of 88.14, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.10%. AbbVie’s payout ratio is 273.33%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABBV. Bank of America raised their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 in the last quarter. 0.25% of the stock is currently owned by 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.