DiNuzzo Private Wealth Inc. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 285 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC lifted its stake 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 worth $43,000 after acquiring an additional 81 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the third quarter worth about $45,000. Bourgeon Capital Management LLC lifted its stake in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares in the last quarter. Naples Money Management LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $53,000. Finally, Core Wealth Advisors Inc. raised its stake in AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

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 value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated 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 approximately $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.6 %

AbbVie stock opened at $161.72 on Thursday. The firm has a market cap of $286.35 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 2.04 and a beta of 0.61. The firm has a fifty day moving average price of $173.74 and a two-hundred day moving average price of $161.10. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. 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 data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 11.3 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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 $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.83%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABBV shares. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three 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 company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $174.31.

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.