Altus Wealth Group LLC Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Altus Wealth Group LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,764 shares of the company’s stock after buying an additional 148 shares during the period. Altus Wealth Group LLC’s holdings in AbbVie were worth $669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the period. Physicians Financial Services Inc. boosted its holdings in 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 purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after purchasing an additional 58 shares during the period. Canopy Partners LLC grew its stake in AbbVie by 1.4% during the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock worth $860,000 after purchasing an additional 59 shares in the last quarter. Finally, Doliver Advisors LP increased its holdings in AbbVie by 1.1% during the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock worth $938,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

NYSE ABBV opened at $211.90 on Friday. The firm’s fifty day moving average is $191.09 and its two-hundred day moving average is $188.10. 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 quick ratio of 0.55 and a current ratio of 0.66. The firm has a market cap of $374.07 billion, a PE ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly 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 296.28%. During the same period last year, the firm posted $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Bank of America raised their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 completion of 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 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 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.