AbbVie Inc. (NYSE:ABBV) Shares Bought by Evergreen Wealth Solutions LLC

Evergreen Wealth Solutions LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,863 shares of the company’s stock after buying an additional 73 shares during the period. Evergreen Wealth Solutions LLC’s holdings in AbbVie were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted 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 purchasing an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its position in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after buying an additional 52 shares during the period. Peninsula Wealth LLC grew its stake in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. raised its holdings in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its stake in 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 acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Bank of America upped their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.41.

AbbVie Stock Performance

Shares of ABBV stock opened at $193.55 on Wednesday. The stock’s 50-day moving average is $196.60 and its two-hundred day moving average is $187.16. 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 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market cap of $342.39 billion, a price-to-earnings ratio of 80.65, a PEG ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.39%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

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.