AbbVie Inc. (NYSE:ABBV) Holdings Raised by Centric Wealth Management

Centric Wealth Management lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,161 shares of the company’s stock after purchasing an additional 365 shares during the quarter. Centric Wealth Management’s holdings in AbbVie were worth $1,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jacobsen Capital Management raised its position in AbbVie by 30.8% in the third quarter. Jacobsen Capital Management now owns 2,649 shares of the company’s stock worth $395,000 after acquiring an additional 623 shares in the last quarter. Northstar Asset Management LLC raised its position in AbbVie by 9.2% in the third quarter. Northstar Asset Management LLC now owns 2,375 shares of the company’s stock worth $354,000 after acquiring an additional 200 shares in the last quarter. Compass Wealth Management LLC raised its position in AbbVie by 5.7% in the third quarter. Compass Wealth Management LLC now owns 25,129 shares of the company’s stock worth $3,746,000 after acquiring an additional 1,363 shares in the last quarter. Sawyer & Company Inc increased its stake in AbbVie by 0.5% in the 3rd quarter. Sawyer & Company Inc now owns 18,384 shares of the company’s stock worth $2,740,000 after purchasing an additional 100 shares in the last quarter. Finally, Silver Lake Advisory LLC increased its stake in AbbVie by 1.2% in the 3rd quarter. Silver Lake Advisory LLC now owns 53,696 shares of the company’s stock worth $8,004,000 after purchasing an additional 631 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Three 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 currently has an average rating of “Moderate Buy” and an average price target of $174.31.

AbbVie Stock Down 1.2 %

Shares of NYSE:ABBV traded down $1.96 during trading on Wednesday, reaching $160.59. 3,458,295 shares of the company traded hands, compared to its average volume of 5,632,592. The firm has a fifty day simple moving average of $172.48 and a 200 day simple moving average of $161.62. The firm has a market cap of $284.35 billion, a P/E ratio of 47.55, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year 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.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) 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 business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is presently 183.98%.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie 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 sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction 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 approximately $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. 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. Insiders own 0.25% of the company’s stock.

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.