Rehmann Capital Advisory Group Purchases 551 Shares of AbbVie Inc. (NYSE:ABBV)

Rehmann Capital Advisory Group boosted its position in AbbVie Inc. (NYSE:ABBV) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,418 shares of the company’s stock after acquiring an additional 551 shares during the quarter. Rehmann Capital Advisory Group’s holdings in AbbVie were worth $2,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navigoe LLC acquired a new position in shares of AbbVie during the fourth quarter worth $130,000. WealthCollab LLC lifted its holdings in shares of AbbVie by 58.2% during the fourth quarter. WealthCollab LLC now owns 348 shares of the company’s stock worth $62,000 after purchasing an additional 128 shares during the period. Bridgewealth Advisory Group LLC acquired a new position in AbbVie in the fourth quarter valued at $217,000. Voleon Capital Management LP acquired a new stake in AbbVie during the 4th quarter worth about $11,381,000. Finally, Evergreen Wealth Solutions LLC raised its position in shares of AbbVie by 1.9% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 3,863 shares of the company’s stock worth $687,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.41.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 0.6 %

Shares of NYSE ABBV opened at $193.55 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business has a 50-day moving average of $196.60 and a 200-day moving average of $187.16. The firm has a market capitalization of $342.39 billion, a price-to-earnings ratio of 80.65, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the business posted $2.31 earnings per share. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 279.15%.

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.