240 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by WealthTrak Capital Management LLC

WealthTrak Capital Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 240 shares of the company’s stock, valued at approximately $43,000.

A number of other large investors have also recently modified their holdings of the business. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter valued at approximately $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the fourth quarter worth $35,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in AbbVie in the fourth quarter valued at $39,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last ninety days. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

Shares of NYSE ABBV opened at $205.12 on Friday. The firm has a fifty day simple moving average of $197.50 and a two-hundred day simple moving average of $189.02. 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 firm has a market capitalization of $362.85 billion, a PE ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the company earned $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. AbbVie’s dividend payout ratio is presently 273.33%.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.