IAG Wealth Partners LLC Has $114,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

IAG Wealth Partners LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 738 shares of the company’s stock after selling 73 shares during the period. IAG Wealth Partners LLC’s holdings in AbbVie were worth $114,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Massachusetts Financial Services Co. MA increased its holdings in shares of AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after buying an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $499,955,000. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of AbbVie by 201.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after buying an additional 1,433,236 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of AbbVie by 34.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after buying an additional 1,130,638 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction 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 have sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Trading Down 4.6 %

Shares of NYSE ABBV opened at $159.62 on Friday. The company’s fifty day moving average is $174.59 and its 200-day moving average is $160.82. The stock has a market cap of $282.63 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve 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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. AbbVie’s payout ratio is 183.98%.

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.