IFG Advisory LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

IFG Advisory LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 53.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,307 shares of the company’s stock after purchasing an additional 13,022 shares during the period. IFG Advisory LLC’s holdings in AbbVie were worth $5,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Vantage Consulting Group Inc increased its holdings in shares of AbbVie by 4.2% in the second quarter. Vantage Consulting Group Inc now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Syntax Advisors LLC increased its holdings in shares of AbbVie by 4.2% in the second quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Goepper Burkhardt LLC increased its holdings in shares of AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the last quarter. First Bank & Trust increased its holdings in shares of AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares during the last quarter. Finally, Clearwater Capital Advisors LLC increased its holdings in shares of AbbVie by 3.9% in the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. 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. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective on the stock in a research note on Monday, December 11th. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following 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. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.6 %

AbbVie stock opened at $180.35 on Thursday. The business has a fifty day moving average of $174.15 and a two-hundred day moving average of $157.81. 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 firm has a market cap of $319.34 billion, a P/E ratio of 66.06, a P/E/G ratio of 2.27 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

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

AbbVie Announces Dividend

The company 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 $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

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.