TRUE Private Wealth Advisors Purchases 2,399 Shares of AbbVie Inc. (NYSE:ABBV)

TRUE Private Wealth Advisors boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,428 shares of the company’s stock after purchasing an additional 2,399 shares during the period. AbbVie makes up about 0.7% of TRUE Private Wealth Advisors’ portfolio, making the stock its 25th biggest position. TRUE Private Wealth Advisors’ holdings in AbbVie were worth $5,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Scissortail Wealth Management LLC grew its holdings in shares of AbbVie by 1,764.3% in the fourth quarter. Scissortail Wealth Management LLC now owns 25,932 shares of the company’s stock valued at $4,251,000 after purchasing an additional 24,541 shares during the period. Tyche Wealth Partners LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $2,192,000. Aspen Wealth Strategies LLC raised its holdings in AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares in the last quarter. Arbor Trust Wealth Advisors LLC raised its holdings in AbbVie by 0.5% in the fourth quarter. Arbor Trust Wealth Advisors LLC now owns 46,553 shares of the company’s stock valued at $7,214,000 after acquiring an additional 225 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new stake in AbbVie during the fourth quarter worth approximately $3,285,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.87 during midday trading on Wednesday, hitting $162.54. 4,881,516 shares of the company were exchanged, compared to its average volume of 5,260,014. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market cap of $287.80 billion, a P/E ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The firm has a 50 day simple moving average of $176.01 and a 200-day simple moving average of $159.91.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 11.12 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABBV shares. BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on 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 owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.