AbbVie Inc. (NYSE:ABBV) Shares Bought by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,357 shares of the company’s stock after acquiring an additional 564 shares during the period. Avidian Wealth Solutions LLC’s holdings in AbbVie were worth $2,225,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC increased its holdings in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $44,000. Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the 3rd quarter worth about $45,000. Core Wealth Advisors Inc. boosted 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 valued at $52,000 after acquiring an additional 285 shares in the last quarter. Finally, Bourgeon Capital Management LLC increased its stake 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 acquiring an additional 240 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.9 %

Shares of AbbVie stock traded up $2.98 during midday trading on Friday, hitting $163.79. The company’s stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The firm has a market capitalization of $290.01 billion, a P/E ratio of 48.60, a PEG ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a 50-day simple moving average of $173.13 and a 200-day simple moving average of $161.39.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.79%. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABBV shares. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James boosted their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Insider Buying and Selling at AbbVie

In related 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 completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 in the last quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.