Wealth Advisory Solutions LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Wealth Advisory Solutions LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,190 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp boosted its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. increased its position in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC raised its holdings in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $208.12 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $215.66. The company has a market capitalization of $367.40 billion, a P/E ratio of 86.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The firm has a 50 day moving average of $185.64 and a 200 day moving average of $187.14. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 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 296.28%. During the same period in the previous year, the company earned $2.79 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.95.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company’s stock.

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.