Private Advisor Group LLC Has $40.50 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Private Advisor Group LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,304 shares of the company’s stock after buying an additional 15,007 shares during the quarter. Private Advisor Group LLC’s holdings in AbbVie were worth $40,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ABBV. Altfest L J & Co. Inc. grew its stake in shares of AbbVie by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after buying an additional 165 shares during the last quarter. Torray Investment Partners LLC increased its stake in shares of AbbVie by 13.0% in the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after buying an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. raised its position in shares of AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Finally, Amplius Wealth Advisors LLC lifted its stake in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after acquiring an additional 400 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABBV shares. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James upped their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the stock 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 MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

ABBV traded down $0.11 during midday trading on Tuesday, reaching $162.62. The company had a trading volume of 2,075,507 shares, compared to its average volume of 5,621,250. The business has a 50-day moving average price of $172.81 and a two-hundred day moving average price of $161.51. 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 12-month low of $130.96 and a 12-month high of $182.89. The stock has a market cap of $287.94 billion, a PE ratio of 48.31, 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, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s payout ratio is 183.98%.

Insider Activity

In related news, CFO Scott T. Reents sold 14,140 shares of AbbVie 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 directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last quarter. Company 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.