1,190 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,190 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds have also bought and sold shares of the company. Swedbank AB boosted its position in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC lifted its stake in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares in the last quarter. Moloney Securities Asset Management LLC boosted its holdings in AbbVie by 2.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,345 shares of the company’s stock worth $4,413,000 after buying an additional 554 shares during the period. Alterna Wealth Management Inc. purchased a new stake in AbbVie in the 3rd quarter worth $209,000. Finally, FSM Wealth Advisors LLC raised its holdings in AbbVie by 3.0% during the third quarter. FSM Wealth Advisors LLC now owns 5,232 shares of the company’s stock valued at $1,033,000 after acquiring an additional 151 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley upped their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.95.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

NYSE:ABBV opened at $208.12 on Wednesday. The firm has a market capitalization of $367.40 billion, a price-to-earnings ratio of 86.72, a PEG ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a 50 day simple moving average of $185.64 and a 200-day simple moving average of $187.14. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the company earned $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.15%. AbbVie’s payout ratio is 273.33%.

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.