AbbVie Inc. (NYSE:ABBV) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,333,915 shares of the company’s stock after purchasing an additional 56,369 shares during the quarter. AbbVie accounts for 0.7% of Corient Private Wealth LLC’s portfolio, making the stock its 25th largest position. Corient Private Wealth LLC owned 0.13% of AbbVie worth $414,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Gitterman Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $266,000. one8zero8 LLC purchased a new stake in AbbVie during the fourth quarter valued at about $2,070,000. Choate Investment Advisors boosted its position in shares of AbbVie by 4.3% in the fourth quarter. Choate Investment Advisors now owns 71,792 shares of the company’s stock worth $12,757,000 after buying an additional 2,972 shares during the period. Diversified Enterprises LLC lifted its position in shares of AbbVie by 9.2% in the fourth quarter. Diversified Enterprises LLC now owns 7,614 shares of the company’s stock worth $1,353,000 after purchasing an additional 642 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in shares of AbbVie by 1.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 27,141 shares of the company’s stock worth $4,823,000 after acquiring an additional 404 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock worth $11,377,057 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.2 %

ABBV stock opened at $211.90 on Friday. 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 cap of $374.07 billion, a P/E ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The business’s 50 day moving average is $191.09 and its 200-day moving average is $188.10.

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

AbbVie Announces Dividend

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

AbbVie Company 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.