AbbVie Inc. (NYSE:ABBV) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,753 shares of the company’s stock after acquiring an additional 1,020 shares during the period. Mission Wealth Management LP’s holdings in AbbVie were worth $8,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,439 shares of company stock valued at $11,377,057. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 2.0 %

NYSE:ABBV opened at $209.07 on Monday. The business’s 50-day moving average is $184.42 and its two-hundred day moving average is $186.91. The firm has a market capitalization of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $209.60. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABBV shares. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

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.