Allen Capital Group LLC Invests $249,000 in AbbVie Inc. (NYSE:ABBV)

Allen Capital Group LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,604 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Retirement Income Solutions Inc acquired a new position in AbbVie during the 1st quarter worth approximately $204,000. Ergoteles LLC boosted its holdings in AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank acquired a new position in shares of AbbVie during the 1st quarter worth about $1,150,000. Wsfs Capital Management LLC acquired a new position in AbbVie during the 1st quarter worth approximately $562,000. Finally, Bridgewater Associates LP increased its holdings in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on ABBV shares. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets lifted their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5 %

Shares of ABBV stock opened at $162.54 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a market cap of $287.80 billion, a P/E ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. The company has a 50 day moving average of $176.01 and a 200-day moving average of $159.91. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business posted $3.60 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 11.12 earnings per share for the current year.

AbbVie Announces Dividend

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 given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. AbbVie’s dividend payout ratio is presently 227.11%.

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.