1,508 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by BKM Wealth Management LLC

BKM Wealth Management LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,508 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. VitalStone Financial LLC grew its holdings in AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the period. Hibernia Wealth Partners LLC acquired a new position in AbbVie during the third quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. acquired a new position in AbbVie during the second quarter valued at approximately $38,000. True Wealth Design LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $39,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. 67.86% of the stock is owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $178.45 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm’s fifty day moving average price is $173.47 and its two-hundred day moving average price is $157.30. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The firm has a market capitalization of $315.97 billion, a P/E ratio of 65.37, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58.

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

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend 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 Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nicholas Donoghoe sold 2,912 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total value of $450,544.64. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $8,649,312.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold 386,236 shares of company stock valued at $68,230,547 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price target for the company from $167.00 to $156.00 in a report on Monday, December 18th. 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. 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 report on Monday, December 11th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Barclays upped their price target on shares of AbbVie from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.71.

Read Our Latest Report on AbbVie

About AbbVie

(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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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