Aviso Financial Inc. Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Aviso Financial Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,575 shares of the company’s stock after acquiring an additional 363 shares during the period. Aviso Financial Inc.’s holdings in AbbVie were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its stake in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Wealthstream Advisors Inc. raised its stake in shares of AbbVie by 3.0% in the third quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after acquiring an additional 56 shares during the period. Armstrong Advisory Group Inc. increased its stake in AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after buying an additional 58 shares during the period. Finally, Canopy Partners LLC increased its stake in AbbVie by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock worth $860,000 after buying an additional 59 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. UBS Group raised their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Performance

Shares of AbbVie stock opened at $211.19 on Friday. The firm has a market cap of $372.83 billion, a price-to-earnings ratio of 88.00, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock’s 50-day moving average is $190.48 and its 200-day moving average is $188.06. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 296.28%. During the same period in the prior year, the business posted $2.79 earnings per share. Equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock valued at $11,377,057 in the last three months. Insiders own 0.25% of the company’s stock.

About AbbVie

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.