Kwmg LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,268 shares of the company’s stock, valued at approximately $205,000.
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A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. First Community Trust NA raised its stake in shares of AbbVie by 2.3% in the fourth quarter. First Community Trust NA now owns 12,791 shares of the company’s stock valued at $2,067,000 after acquiring an additional 289 shares during the last quarter. Avitas Wealth Management LLC raised its stake in shares of AbbVie by 25.1% in the fourth quarter. Avitas Wealth Management LLC now owns 34,626 shares of the company’s stock valued at $5,596,000 after acquiring an additional 6,945 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in shares of AbbVie by 2.4% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 79,826 shares of the company’s stock valued at $12,901,000 after acquiring an additional 1,876 shares during the last quarter. McGuire Investment Group LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $231,000. Finally, Gries Financial LLC raised its stake in shares of AbbVie by 5.2% in the fourth quarter. Gries Financial LLC now owns 17,610 shares of the company’s stock valued at $2,846,000 after acquiring an additional 866 shares during the last quarter. Institutional investors own 67.71% of the company’s stock.
Wall Street Analysts Forecast Growth
ABBV has been the subject of a number of research analyst reports. SVB Leerink upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Piper Sandler lifted their target price on shares of AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Morgan Stanley cut their target price on shares of AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, February 10th. Piper Jaffray Companies boosted their price objective on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Finally, StockNews.com cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Hold” and an average price target of $161.12.
Insider Activity
In other news, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $150.50, for a total value of $1,505,000.00. Following the completion of the transaction, the director now owns 40,705 shares of the company’s stock, valued at approximately $6,126,102.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $149.53, for a total value of $3,738,250.00. Following the sale, the executive vice president now directly owns 233,208 shares of the company’s stock, valued at approximately $34,871,592.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the completion of the sale, the director now directly owns 40,705 shares in the company, valued at $6,126,102.50. The disclosure for this sale can be found here. Insiders sold 159,746 shares of company stock valued at $24,267,450 in the last quarter. Company insiders own 0.08% of the company’s stock.
AbbVie Price Performance
ABBV opened at $154.22 on Friday. The company has a fifty day moving average price of $151.13 and a two-hundred day moving average price of $150.93. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96. AbbVie Inc. has a 52 week low of $134.09 and a 52 week high of $175.91. The firm has a market capitalization of $272.88 billion, a PE ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62.
AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The firm had revenue of $15.12 billion during the quarter, compared to analyst estimates of $15.30 billion. During the same quarter in the previous year, the business earned $3.31 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 11 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, April 13th. AbbVie’s dividend payout ratio (DPR) is 89.56%.
About AbbVie
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.
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