Fonville Wealth Management LLC Invests $300,000 in AbbVie Inc. (NYSE:ABBV)

Fonville Wealth Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,936 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hibernia Wealth Partners LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth about $36,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth about $38,000. True Wealth Design LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $39,000. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at about $45,000. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV traded up $0.68 during mid-day trading on Friday, reaching $165.34. The company had a trading volume of 1,278,289 shares, compared to its average volume of 5,578,899. The company’s 50 day simple moving average is $175.59 and its 200 day simple moving average is $159.97. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $292.76 billion, a price-to-earnings ratio of 60.43, a P/E/G ratio of 2.11 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the company posted $3.60 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 11.18 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.75%. AbbVie’s payout ratio is currently 227.11%.

Insider Activity

In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ABBV. Barclays raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial lifted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets lifted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.