Cahill Financial Advisors Inc. Invests $501,000 in AbbVie Inc. (NYSE:ABBV)

Cahill Financial Advisors Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,819 shares of the company’s stock, valued at approximately $501,000.

Other hedge funds have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.2 %

ABBV stock opened at $196.04 on Tuesday. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a market capitalization of $346.79 billion, a PE ratio of 81.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company’s 50 day moving average price is $196.00 and its two-hundred day moving average price is $187.27. 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 (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the prior year, the business posted $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 279.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABBV shares. Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $211.41.

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.