AbbVie Inc. (NYSE:ABBV) Shares Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 17.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,272 shares of the company’s stock after acquiring an additional 1,490 shares during the quarter. OneAscent Financial Services LLC’s holdings in AbbVie were worth $1,825,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ABBV. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares in the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after buying an additional 58 shares during the last quarter. Doliver Advisors LP boosted its holdings in shares of AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after buying an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC grew its position in shares of AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Guggenheim raised their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $206.08 on Wednesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock has a fifty day moving average of $198.94 and a two-hundred day moving average of $189.11. The company has a market capitalization of $364.55 billion, a price-to-earnings ratio of 85.87, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced 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 company posted $2.79 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.