Flagship Wealth Advisors LLC Takes $851,000 Position in AbbVie Inc. (NYSE:ABBV)

Flagship Wealth Advisors LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,787 shares of the company’s stock, valued at approximately $851,000.

Other large investors have also modified their holdings of the company. Swedbank AB boosted its holdings in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC raised its position in AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. United Bank acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $217,000. Finally, Entropy Technologies LP bought a new position in shares of AbbVie during the 3rd quarter worth approximately $250,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America boosted their price target on 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 AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Trading Up 0.2 %

ABBV opened at $211.90 on Monday. The firm has a market cap of $374.07 billion, a P/E ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day moving average of $191.09 and a 200 day moving average of $188.05.

AbbVie (NYSE:ABBV) last announced 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 296.28%. During the same period in the previous year, the business posted $2.79 EPS. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. 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.