TRUE Private Wealth Advisors Raises Holdings in AbbVie Inc. (NYSE:ABBV)

TRUE Private Wealth Advisors boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,428 shares of the company’s stock after acquiring an additional 2,399 shares during the quarter. AbbVie accounts for approximately 0.7% of TRUE Private Wealth Advisors’ holdings, making the stock its 25th biggest holding. TRUE Private Wealth Advisors’ holdings in AbbVie were worth $5,800,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Retirement Income Solutions Inc purchased a new stake in shares of AbbVie during the 1st quarter valued at $204,000. Ergoteles LLC lifted its holdings in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank purchased a new stake in shares of AbbVie during the 1st quarter valued at $1,150,000. Wsfs Capital Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $562,000. Finally, Bridgewater Associates LP increased its position in shares of AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after acquiring an additional 33,661 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

AbbVie stock traded up $0.87 during midday trading on Wednesday, reaching $162.54. The company had a trading volume of 4,881,516 shares, compared to its average volume of 5,260,014. The company has a market capitalization of $287.80 billion, a P/E ratio of 59.54, a P/E/G ratio of 2.09 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 firm’s fifty day simple moving average is $176.01 and its 200-day simple moving average is $159.91. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $3.60 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 11.12 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

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.