Vision Financial Markets LLC Makes New $160,000 Investment in AbbVie Inc. (NYSE:ABBV)

Vision Financial Markets LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 900 shares of the company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Arizona State Retirement System grew its holdings in shares of AbbVie by 1.3% during the fourth quarter. Arizona State Retirement System now owns 513,008 shares of the company’s stock worth $91,162,000 after buying an additional 6,690 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of AbbVie by 14.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 25,453 shares of the company’s stock worth $4,523,000 after buying an additional 3,127 shares in the last quarter. Sound Financial Strategies Group LLC grew its holdings in shares of AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock worth $213,000 after buying an additional 60 shares in the last quarter. Vantage Financial Partners LLC grew its holdings in shares of AbbVie by 11.2% during the fourth quarter. Vantage Financial Partners LLC now owns 10,945 shares of the company’s stock worth $1,945,000 after buying an additional 1,105 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of AbbVie by 50.8% during the fourth quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company’s stock worth $1,177,000 after buying an additional 2,230 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.9 %

ABBV opened at $211.61 on Thursday. The stock has a market capitalization of $373.57 billion, a PE ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58. The firm’s fifty day moving average price is $186.27 and its 200 day moving average price is $187.31. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $215.66.

AbbVie (NYSE:ABBV) last posted 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 last year, the firm earned $2.79 earnings per share. As a group, research analysts expect 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. Investors 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 annualized dividend and a yield of 3.10%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ABBV shares. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five research 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’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average 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.