Avidian Wealth Solutions LLC Has $2.23 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Avidian Wealth Solutions LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 4.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,357 shares of the company’s stock after acquiring an additional 564 shares during the period. Avidian Wealth Solutions LLC’s holdings in AbbVie were worth $2,225,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Avalon Trust Co boosted its holdings in shares of AbbVie by 8.9% in the fourth quarter. Avalon Trust Co now owns 4,050 shares of the company’s stock valued at $628,000 after buying an additional 330 shares during the period. TCG Advisory Services LLC increased its holdings in AbbVie by 38.5% during the 4th quarter. TCG Advisory Services LLC now owns 58,648 shares of the company’s stock worth $9,089,000 after purchasing an additional 16,293 shares in the last quarter. AJOVista LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at about $250,000. Provence Wealth Management Group lifted its holdings in shares of AbbVie by 9.3% in the fourth quarter. Provence Wealth Management Group now owns 3,907 shares of the company’s stock valued at $605,000 after purchasing an additional 331 shares in the last quarter. Finally, Blue Fin Capital Inc. boosted its position in shares of AbbVie by 0.7% during the fourth quarter. Blue Fin Capital Inc. now owns 14,465 shares of the company’s stock worth $2,242,000 after buying an additional 99 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $174.31.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal 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 that occurred 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded up $2.98 on Friday, hitting $163.79. The company’s stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. 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 Inc. has a one year low of $130.96 and a one year high of $182.89. The stock has a fifty day moving average of $173.13 and a two-hundred day moving average of $161.39. The firm has a market capitalization of $290.01 billion, a P/E ratio of 48.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share 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 business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current 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. This represents a $6.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

AbbVie 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.