Wealth Alliance Purchases 2,091 Shares of AbbVie Inc. (NYSE:ABBV)

Wealth Alliance increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,731 shares of the company’s stock after buying an additional 2,091 shares during the period. AbbVie accounts for approximately 0.6% of Wealth Alliance’s holdings, making the stock its 28th biggest position. Wealth Alliance’s holdings in AbbVie were worth $3,988,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABBV. Altfest L J & Co. Inc. raised its stake in shares of AbbVie by 0.9% in the 3rd quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after buying an additional 215 shares in the last quarter. Torray Investment Partners LLC increased its position in shares of AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares in the last quarter. Retirement Planning Co of New England Inc. increased its position in shares of AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after purchasing an additional 4,633 shares in the last quarter. Amplius Wealth Advisors LLC increased its position in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after purchasing an additional 400 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of AbbVie by 5.4% during the 3rd quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after purchasing an additional 6,139 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 1.1 %

Shares of NYSE ABBV traded up $1.84 during midday trading on Tuesday, reaching $163.51. The company’s stock had a trading volume of 2,673,823 shares, compared to its average volume of 5,633,727. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a market capitalization of $289.52 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 2.07 and a beta of 0.58. The stock has a 50 day simple moving average of $176.23 and a 200-day simple moving average of $159.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 earnings per share. Equities research analysts predict that AbbVie Inc. will post 11.11 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABBV. Barclays increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and lowered their price objective for the company from $167.00 to $156.00 in a research report on Monday, December 18th. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

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.