Bigelow Investment Advisors LLC Takes $255,000 Position in AbbVie Inc. (NYSE:ABBV)

Bigelow Investment Advisors LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,648 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aspen Wealth Strategies LLC raised its position in shares of AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the period. Avion Wealth increased its holdings in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the period. Goepper Burkhardt LLC increased its holdings in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after acquiring an additional 67 shares during the period. First Bank & Trust increased its holdings in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares during the period. Finally, Hudock Inc. increased its holdings in AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after acquiring an additional 68 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABBV shares. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

Shares of AbbVie stock opened at $166.42 on Friday. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The stock has a market capitalization of $294.67 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 2.12 and a beta of 0.58. The company has a fifty day moving average of $175.44 and a 200-day moving average of $160.10. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 3.73%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

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.