Signature Estate & Investment Advisors LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Signature Estate & Investment Advisors LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,214 shares of the company’s stock after acquiring an additional 156 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in AbbVie were worth $1,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Syverson Strege & Co grew its position in AbbVie by 40.1% during the 4th quarter. Syverson Strege & Co now owns 4,554 shares of the company’s stock worth $809,000 after purchasing an additional 1,304 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in shares of AbbVie by 69.3% during the fourth quarter. Zions Bancorporation N.A. now owns 50,232 shares of the company’s stock worth $8,926,000 after buying an additional 20,560 shares during the last quarter. Ashton Thomas Securities LLC increased its position in AbbVie by 7.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 2,082 shares of the company’s stock valued at $367,000 after acquiring an additional 140 shares during the period. Modern Wealth Management LLC raised its stake in AbbVie by 63.1% during the 4th quarter. Modern Wealth Management LLC now owns 49,353 shares of the company’s stock valued at $9,394,000 after acquiring an additional 19,086 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in AbbVie during the 4th quarter worth approximately $717,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last quarter. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $201.12 on Wednesday. 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 firm’s 50-day simple moving average is $195.65 and its 200 day simple moving average is $188.78. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm has a market capitalization of $355.05 billion, a PE ratio of 83.80, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the company posted $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business 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 3.26%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Morgan Stanley lifted their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five investment 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 MarketBeat.com, the stock currently 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.