WealthBridge Capital Management LLC Purchases 317 Shares of AbbVie Inc. (NYSE:ABBV)

WealthBridge Capital Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 12,573 shares of the company’s stock after buying an additional 317 shares during the quarter. WealthBridge Capital Management LLC’s holdings in AbbVie were worth $2,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Alliance grew its position in AbbVie by 3.6% during the 4th quarter. Wealth Alliance now owns 22,672 shares of the company’s stock worth $4,029,000 after acquiring an additional 779 shares during the last quarter. Sunpointe LLC grew its position in AbbVie by 29.9% during the 4th quarter. Sunpointe LLC now owns 4,401 shares of the company’s stock worth $782,000 after acquiring an additional 1,013 shares during the last quarter. LMG Wealth Partners LLC grew its position in AbbVie by 3.9% during the 4th quarter. LMG Wealth Partners LLC now owns 21,741 shares of the company’s stock worth $3,863,000 after acquiring an additional 820 shares during the last quarter. Corps Capital Advisors LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $1,625,000. Finally, Emerald Advisors LLC grew its position in shares of AbbVie by 9.0% in the 4th quarter. Emerald Advisors LLC now owns 3,735 shares of the company’s stock valued at $664,000 after buying an additional 307 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABBV shares. Raymond James reiterated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Guggenheim upped their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

Shares of AbbVie stock opened at $197.30 on Thursday. The company has a market cap of $348.66 billion, a PE ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The business has a 50 day moving average price of $179.67 and a 200-day moving average price of $186.11. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the business earned $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.