Paragon Private Wealth Management LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Paragon Private Wealth Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,341 shares of the company’s stock after buying an additional 1,231 shares during the period. AbbVie makes up approximately 1.1% of Paragon Private Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Paragon Private Wealth Management LLC’s holdings in AbbVie were worth $2,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.8 %

ABBV opened at $214.55 on Monday. The stock has a market cap of $378.75 billion, a PE ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $215.66. The business’s fifty day simple moving average is $187.63 and its 200 day simple moving average is $187.47.

AbbVie (NYSE:ABBV) last released its 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm posted $2.79 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid 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 3.06%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last 90 days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ABBV shares. UBS Group upped their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Piper Sandler upped their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.45.

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.