Talbot Financial LLC Acquires 4,661 Shares of AbbVie Inc. (NYSE:ABBV)

Talbot Financial LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,540 shares of the company’s stock after acquiring an additional 4,661 shares during the quarter. AbbVie makes up about 2.1% of Talbot Financial LLC’s investment portfolio, making the stock its 14th largest position. Talbot Financial LLC’s holdings in AbbVie were worth $13,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC raised its position in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after acquiring an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC acquired a new stake in shares of AbbVie during the third quarter worth $36,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the second quarter worth $38,000. True Wealth Design LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $39,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. Institutional investors own 67.86% of the company’s stock.

AbbVie Stock Down 1.9 %

Shares of AbbVie stock traded down $3.39 during trading on Wednesday, reaching $176.27. The stock had a trading volume of 7,293,059 shares, compared to its average volume of 5,789,301. The company has a market capitalization of $311.38 billion, a price-to-earnings ratio of 64.57, a P/E/G ratio of 2.27 and a beta of 0.58. The stock has a fifty day moving average price of $172.87 and a two-hundred day moving average price of $156.87. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.60 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.52%. AbbVie’s payout ratio is presently 227.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ABBV shares. BMO Capital Markets lifted their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lifted their price objective on AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price for the company in a research note on Monday, December 11th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.36.

Read Our Latest Stock Report on ABBV

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 2,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total value of $450,544.64. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $8,649,312.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 365,154 shares of company stock worth $64,513,791. Corporate insiders own 0.26% of the company’s stock.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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