Greykasell Wealth Strategies Inc. Takes Position in AbbVie Inc. (NYSE:ABBV)

Greykasell Wealth Strategies Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 5,042 shares of the company’s stock, valued at approximately $896,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Groupama Asset Managment increased its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth $29,000. Promus Capital LLC purchased a new stake in AbbVie in the 4th quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock worth $11,377,057 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV opened at $211.90 on Friday. The firm’s 50 day moving average price is $191.09 and its 200 day moving average price is $188.16. The stock has a market cap of $374.07 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. 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 earnings per share 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 quarter last year, the firm posted $2.79 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.