FMA Wealth Management LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

FMA Wealth Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 983 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crestline Management LP lifted its holdings in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Weaver Capital Management LLC grew its position in AbbVie by 3.9% during the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock valued at $1,727,000 after buying an additional 310 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $185.16 on Monday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company’s fifty day moving average price is $185.19 and its 200-day moving average price is $187.78. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a market capitalization of $327.06 billion, a PE ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on ABBV shares. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI boosted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.29.

About AbbVie

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.