AbbVie Inc. (NYSE:ABBV) Holdings Raised by Apriem Advisors

Apriem Advisors increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,315 shares of the company’s stock after purchasing an additional 881 shares during the quarter. Apriem Advisors’ holdings in AbbVie were worth $2,366,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter worth $31,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% during the third 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 period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.5 %

Shares of ABBV opened at $203.08 on Thursday. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market capitalization of $358.51 billion, a P/E ratio of 84.62, a P/E/G ratio of 1.62 and a beta of 0.58. The business’s 50-day moving average price is $183.08 and its 200 day moving average price is $186.72.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 3.23%. AbbVie’s payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction 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. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on 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 owns 22,381 shares in the company, valued at approximately $4,429,199.90. This 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 insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Citigroup increased their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.