HHM Wealth Advisors LLC Acquires 370 Shares of AbbVie Inc. (NYSE:ABBV)

HHM Wealth Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,257 shares of the company’s stock after purchasing an additional 370 shares during the quarter. HHM Wealth Advisors LLC’s holdings in AbbVie were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its position in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the period. Horrell Capital Management Inc. bought a new position in AbbVie in the 3rd quarter worth about $45,000. Bourgeon Capital Management LLC increased its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the period. Naples Money Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $53,000. Finally, Core Wealth Advisors Inc. lifted its holdings in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABBV shares. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. BMO Capital Markets boosted their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Price Performance

NYSE ABBV traded down $7.67 on Friday, reaching $159.62. 10,721,740 shares of the company’s stock traded hands, compared to its average volume of 5,004,945. The stock has a market cap of $282.63 billion, a PE ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a 50-day simple moving average of $174.59 and a 200 day simple moving average of $160.82.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. As a group, research analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 183.98%.

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.