GUNN & Co INVESTMENT MANAGEMENT INC. Takes $539,000 Position in AbbVie Inc. (NYSE:ABBV)

GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,477 shares of the company’s stock, valued at approximately $539,000.

Other large investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $44,000. Blue Bell Private Wealth Management LLC grew its position in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at $45,000. Bourgeon Capital Management LLC grew its holdings in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new stake in AbbVie during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.4 %

Shares of ABBV traded up $0.67 during midday trading on Tuesday, reaching $163.40. 605,452 shares of the stock were exchanged, compared to its average volume of 5,604,689. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a 50 day simple moving average of $172.81 and a 200-day simple moving average of $161.51. 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 market cap of $289.32 billion, a price-to-earnings ratio of 48.29, a P/E/G ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Research analysts forecast that AbbVie Inc. will post 11.29 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 dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s payout ratio is presently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction 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 directly 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 SEC, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’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 completion of the sale, 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. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial raised their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.