Transce3nd LLC Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

Transce3nd LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 897 shares of the company’s stock, valued at approximately $159,000.

Other institutional investors have also modified their holdings of the company. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth $32,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was 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 accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ABBV shares. Raymond James reiterated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 9th. Finally, BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $172.78 on Monday. The business has a fifty day simple moving average of $198.47 and a 200-day simple moving average of $187.71. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a market cap of $305.64 billion, a P/E ratio of 71.99, a P/E/G 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 posted its quarterly earnings data 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 last year, the company posted $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business 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 is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.