Seven Mile Advisory Has $493,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Seven Mile Advisory raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,777 shares of the company’s stock after buying an additional 102 shares during the quarter. Seven Mile Advisory’s holdings in AbbVie were worth $493,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the 4th quarter worth $29,000. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the fourth quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter worth $32,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the fourth quarter valued at $35,000. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 over the last three months. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $205.12 on Monday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $362.85 billion, a P/E ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. The business has a 50-day moving average of $197.50 and a 200-day moving average of $188.91.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Finally, UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.