AbbVie Inc. (NYSE:ABBV) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,945 shares of the company’s stock after buying an additional 1,365 shares during the period. Naviter Wealth LLC’s holdings in AbbVie were worth $1,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the third quarter worth about $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the period. Bourgeon Capital Management LLC raised its position in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABBV. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial boosted their target price 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. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Stock Up 0.3 %

AbbVie stock traded up $0.54 during mid-day trading on Monday, reaching $160.16. 3,134,025 shares of the company’s stock were exchanged, compared to its average volume of 5,625,113. The company has a market cap of $283.59 billion, a P/E ratio of 47.49, a P/E/G ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. 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 company has a fifty day moving average of $174.59 and a 200-day moving average of $160.90.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. Sell-side analysts expect that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.