Second Half Financial Partners LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Second Half Financial Partners LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,472 shares of the company’s stock after purchasing an additional 70 shares during the period. Second Half Financial Partners LLC’s holdings in AbbVie were worth $439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC grew its position in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in shares of AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 3.1 %

Shares of NYSE:ABBV opened at $185.96 on Friday. 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 company’s 50-day moving average price is $196.85 and its 200 day moving average price is $187.18. The company has a market cap of $328.96 billion, a PE ratio of 77.48, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.05). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the firm posted $2.31 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 279.15%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Citigroup lifted 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. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.19.

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.