EnRich Financial Partners LLC Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

EnRich Financial Partners LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 196.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 166 shares of the company’s stock after purchasing an additional 110 shares during the quarter. EnRich Financial Partners LLC’s holdings in AbbVie were worth $29,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $32,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter worth $35,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Bank of America raised their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

AbbVie Price Performance

Shares of ABBV opened at $179.81 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm’s 50 day moving average price is $200.79 and its 200 day moving average price is $188.74. The company has a market cap of $318.08 billion, a P/E ratio of 74.92, a PEG ratio of 1.62 and a beta of 0.55. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 quarter last year, the firm posted $2.79 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.65%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.