WealthCollab LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

WealthCollab LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 58.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348 shares of the company’s stock after acquiring an additional 128 shares during the period. WealthCollab LLC’s holdings in AbbVie were worth $62,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Howard Capital Management Group LLC increased its holdings in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares during the last quarter. Principal Financial Group Inc. increased its stake in AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares during the last quarter. Westside Investment Management Inc. raised its position in AbbVie by 1.0% in the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock valued at $3,403,000 after purchasing an additional 171 shares during the period. Morse Asset Management Inc lifted its stake in shares of AbbVie by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock valued at $1,494,000 after purchasing an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. purchased a new position in shares of AbbVie during the 3rd quarter worth $466,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $193.55 on Wednesday. The stock has a market cap of $342.39 billion, a P/E ratio of 80.65, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The stock has a 50 day moving average of $196.60 and a two-hundred day moving average of $187.16. 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 issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the firm posted $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.39%. AbbVie’s payout ratio is 279.15%.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s 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 transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ABBV. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Bank of America lifted their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.41.

About AbbVie

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.