Altman Advisors Inc. Purchases 153 Shares of AbbVie Inc. (NYSE:ABBV)

Altman Advisors Inc. grew its position in AbbVie Inc. (NYSE:ABBVFree Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,508 shares of the company’s stock after buying an additional 153 shares during the period. Altman Advisors Inc.’s holdings in AbbVie were worth $1,783,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Lmcg Investments LLC raised its position in shares of AbbVie by 1.8% in the 4th quarter. Lmcg Investments LLC now owns 170,282 shares of the company’s stock valued at $26,389,000 after purchasing an additional 2,983 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AbbVie by 6.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,844,635 shares of the company’s stock worth $295,990,000 after purchasing an additional 107,240 shares during the period. Innova Wealth Partners raised its position in AbbVie by 1.7% during the fourth quarter. Innova Wealth Partners now owns 4,619 shares of the company’s stock valued at $716,000 after acquiring an additional 76 shares in the last quarter. Quotient Wealth Partners LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $935,000. Finally, Nordwand Advisors LLC increased its holdings in shares of AbbVie by 0.4% during the 4th quarter. Nordwand Advisors LLC now owns 19,190 shares of the company’s stock valued at $2,974,000 after purchasing an additional 68 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV stock traded up $2.19 during midday trading on Wednesday, reaching $163.78. The stock had a trading volume of 5,260,837 shares, compared to its average volume of 5,573,073. The company’s fifty day simple moving average is $170.80 and its 200 day simple moving average is $162.21. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market cap of $289.21 billion, a price-to-earnings ratio of 48.50, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. 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 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

Get Our Latest Research Report on AbbVie

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 in the last three months. 0.25% of the stock is currently owned by insiders.

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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