MeadowBrook Investment Advisors LLC Purchases Shares of 951 AbbVie Inc. (NYSE:ABBV)

MeadowBrook Investment Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 951 shares of the company’s stock, valued at approximately $147,000.

A number of other large investors have also recently made changes to their positions in the company. Altfest L J & Co. Inc. grew its stake in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after acquiring an additional 165 shares during the last quarter. Torray Investment Partners LLC raised 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 acquiring an additional 2,446 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its stake in AbbVie by 21.3% during the third 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 during the last quarter. Finally, Amplius Wealth Advisors LLC boosted its holdings in AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE:ABBV traded down $1.06 during mid-day trading on Monday, hitting $162.73. 5,834,137 shares of the company’s stock traded hands, compared to its average volume of 5,663,803. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $288.14 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm’s 50 day simple moving average is $173.13 and its 200 day simple moving average is $161.39.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the company earned $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.81%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ABBV shares. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.31.

Insiders Place Their Bets

In related news, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Insiders own 0.25% of the company’s stock.

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.