Strata Wealth Advisors LLC Purchases New Stake in AbbVie Inc. (NYSE:ABBV)

Strata Wealth Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,510 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $196.36 on Wednesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average is $179.25 and its 200-day moving average is $186.06. The firm has a market capitalization of $347.00 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 257.91% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend on an annualized basis and a yield of 3.34%. AbbVie’s payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABBV. BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

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.