AbbVie Inc. (NYSE:ABBV) Shares Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,254 shares of the company’s stock after buying an additional 63 shares during the quarter. Marks Group Wealth Management Inc’s holdings in AbbVie were worth $349,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new position in AbbVie in the 3rd quarter valued at approximately $45,000. Bourgeon Capital Management LLC increased its stake in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares in the last quarter. Naples Money Management LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $53,000. Finally, Core Wealth Advisors Inc. increased its stake in AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of AbbVie stock opened at $169.34 on Wednesday. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a market capitalization of $299.84 billion, a P/E ratio of 62.10, a PEG ratio of 2.16 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business’s fifty day moving average price is $175.26 and its 200 day moving average price is $160.57.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Dividend Announcement

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 paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ABBV shares. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.