25,857 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The firm acquired 25,857 shares of the company’s stock, valued at approximately $4,595,000. AbbVie accounts for approximately 4.1% of Crowley Wealth Management Inc.’s holdings, making the stock its 5th largest position.

A number of other hedge funds have also modified their holdings of the stock. Everence Capital Management Inc. grew its holdings in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its holdings in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the last quarter. State Street Corp increased its position in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Sky Investment Group LLC raised its stake in shares of AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after acquiring an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in shares of AbbVie by 16.5% during the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 0.9 %

AbbVie stock opened at $209.98 on Friday. The firm has a market capitalization of $370.68 billion, a price-to-earnings ratio of 87.49, a P/E/G ratio of 1.62 and a beta of 0.61. The firm has a 50 day simple moving average of $194.49 and a 200 day simple moving average of $188.67. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the business earned $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.12%. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ABBV shares. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Piper Sandler raised their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Guggenheim upped their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Company 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.