AbbVie Inc. (NYSE:ABBV) Shares Acquired by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,197 shares of the company’s stock after buying an additional 364 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in AbbVie were worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Cannell & Co. lifted its holdings in shares of AbbVie by 1.8% during the 4th quarter. Cannell & Co. now owns 230,806 shares of the company’s stock worth $35,768,000 after acquiring an additional 4,060 shares during the period. PYA Waltman Capital LLC boosted its stake in shares of AbbVie by 14.0% in the fourth quarter. PYA Waltman Capital LLC now owns 15,806 shares of the company’s stock valued at $2,449,000 after purchasing an additional 1,939 shares during the period. Fiducient Advisors LLC grew its stake in shares of AbbVie by 22.1% during the fourth quarter. Fiducient Advisors LLC now owns 6,404 shares of the company’s stock valued at $992,000 after acquiring an additional 1,160 shares in the last quarter. Paces Ferry Wealth Advisors LLC grew its stake in AbbVie by 13.4% during the 4th quarter. Paces Ferry Wealth Advisors LLC now owns 2,472 shares of the company’s stock valued at $383,000 after purchasing an additional 293 shares in the last quarter. Finally, Mach 1 Financial Group LLC grew its position in shares of AbbVie by 28.7% during the fourth quarter. Mach 1 Financial Group LLC now owns 18,798 shares of the company’s stock worth $2,913,000 after buying an additional 4,187 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was 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 in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 0.5 %

NYSE:ABBV traded up $0.83 during trading hours on Wednesday, hitting $163.47. 1,608,166 shares of the company’s stock traded hands, compared to its average volume of 5,610,940. 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 Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock’s fifty day moving average price is $174.01 and its two-hundred day moving average price is $161.10. The firm has a market cap of $289.45 billion, a P/E ratio of 48.27, a P/E/G ratio of 2.04 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current fiscal 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 issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABBV. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.31.

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.