AbbVie Inc. (NYSE:ABBV) Shares Bought by Strong Tower Advisory Services

Strong Tower Advisory Services grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,653 shares of the company’s stock after purchasing an additional 362 shares during the period. Strong Tower Advisory Services’ holdings in AbbVie were worth $876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares in the last quarter. BlackRock Inc. lifted its stake in AbbVie by 0.3% in the 2nd quarter. BlackRock Inc. now owns 139,161,796 shares of the company’s stock valued at $18,749,269,000 after buying an additional 440,286 shares in the last quarter. State Street Corp lifted its stake in AbbVie by 1.5% in the 2nd quarter. State Street Corp now owns 78,182,567 shares of the company’s stock valued at $10,533,537,000 after buying an additional 1,156,130 shares in the last quarter. Morgan Stanley lifted its stake in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.9 %

Shares of AbbVie stock opened at $181.97 on Friday. The business has a 50-day moving average of $174.51 and a 200-day moving average of $157.96. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market capitalization of $322.21 billion, a PE ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the company posted $3.60 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.41%. AbbVie’s dividend payout ratio is currently 227.11%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Monday, December 11th. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, HSBC lowered AbbVie from a “buy” rating to a “hold” rating and reduced their price target for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Company 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.