Aspen Wealth Strategies LLC Buys 277 Shares of AbbVie Inc. (NYSE:ABBV)

Aspen Wealth Strategies LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,306 shares of the company’s stock after acquiring an additional 277 shares during the quarter. AbbVie accounts for approximately 1.2% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 15th biggest position. Aspen Wealth Strategies LLC’s holdings in AbbVie were worth $1,831,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABBV. Groupama Asset Managment boosted its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth about $29,000. Promus Capital LLC bought a new stake in AbbVie during the fourth quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth about $31,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler upped their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was 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 sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

AbbVie stock opened at $214.45 on Tuesday. The business has a 50 day moving average of $191.78 and a 200-day moving average of $188.18. AbbVie Inc. has a 1 year low of $153.58 and a 1 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. The company has a market capitalization of $378.57 billion, a P/E ratio of 89.35, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 company posted $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.