AbbVie Inc. (NYSE:ABBV) Shares Acquired by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,030 shares of the company’s stock after buying an additional 286 shares during the period. Sugarloaf Wealth Management LLC’s holdings in AbbVie were worth $470,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC boosted its holdings in shares of AbbVie by 218.4% in the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after buying an additional 166 shares during the period. Hibernia Wealth Partners LLC bought a new position in shares of AbbVie during the third quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $38,000. True Wealth Design LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $39,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 67.86% of the company’s stock.

AbbVie Trading Up 0.4 %

AbbVie stock opened at $178.53 on Tuesday. The stock has a market cap of $315.37 billion, a P/E ratio of 65.40, a P/E/G ratio of 2.30 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 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’s fifty day simple moving average is $172.30 and its 200-day simple moving average is $156.51.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business earned $3.60 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Announces Dividend

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. This represents a $6.20 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nicholas Donoghoe sold 2,912 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total transaction of $450,544.64. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $8,649,312.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 306,205 shares of company stock valued at $53,974,299 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABBV. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research report on Monday, December 11th. Barclays lifted their price target on AbbVie from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, HSBC lowered AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the company from $167.00 to $156.00 in a report on Monday, December 18th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.36.

Check Out Our Latest Report on ABBV

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, 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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.