AbbVie Inc. (NYSE:ABBV) Position Boosted by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 42.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,572 shares of the company’s stock after acquiring an additional 18,231 shares during the period. Lake Street Advisors Group LLC’s holdings in AbbVie were worth $10,941,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the 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 transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $204.19 on Wednesday. The firm has a market cap of $360.46 billion, a price-to-earnings ratio of 85.08, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business has a fifty day simple moving average of $182.48 and a 200 day simple moving average of $186.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.