AbbVie Inc. (NYSE:ABBV) Shares Purchased by LMG Wealth Partners LLC

LMG Wealth Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,914 shares of the company’s stock after purchasing an additional 2,053 shares during the quarter. LMG Wealth Partners LLC’s holdings in AbbVie were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hibernia Wealth Partners LLC acquired a new stake in AbbVie during the third quarter worth about $36,000. VitalStone Financial LLC increased its stake in 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. True Wealth Design LLC acquired a new stake in AbbVie during the fourth quarter worth about $39,000. KB Financial Partners LLC acquired a new stake in AbbVie during the first quarter worth about $45,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in AbbVie during the second quarter worth about $38,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” 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 report on Monday, January 29th. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and decreased their target price for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.43.

Read Our Latest Report on ABBV

AbbVie Stock Performance

Shares of AbbVie stock traded down $0.04 on Tuesday, reaching $180.72. 4,523,844 shares of the company were exchanged, compared to its average volume of 5,643,128. 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 company’s 50-day moving average is $175.54 and its two-hundred day moving average is $158.67. The firm has a market cap of $319.99 billion, a price-to-earnings ratio of 66.19, a P/E/G ratio of 2.31 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business 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 business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. As a group, research analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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