AbbVie Inc. (NYSE:ABBV) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 26,693.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,176,754 shares of the company’s stock after purchasing an additional 1,172,362 shares during the quarter. Proficio Capital Partners LLC owned about 0.07% of AbbVie worth $209,109,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABBV. Oppenheimer & Co. Inc. increased its stake in shares of AbbVie by 0.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 149,869 shares of the company’s stock worth $26,632,000 after buying an additional 1,103 shares during the period. Kovack Advisors Inc. increased its stake in shares of AbbVie by 8.9% during the fourth quarter. Kovack Advisors Inc. now owns 16,948 shares of the company’s stock worth $3,012,000 after buying an additional 1,379 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of AbbVie by 1.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 697,404 shares of the company’s stock worth $123,929,000 after buying an additional 13,200 shares during the period. New York Life Investment Management LLC increased its stake in shares of AbbVie by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 238,257 shares of the company’s stock worth $42,338,000 after buying an additional 2,072 shares during the period. Finally, Apriem Advisors increased its stake in shares of AbbVie by 7.1% during the fourth quarter. Apriem Advisors now owns 13,315 shares of the company’s stock worth $2,366,000 after buying an additional 881 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $203.08 on Thursday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a fifty day moving average price of $183.08 and a 200 day moving average price of $186.72. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market cap of $358.51 billion, a PE ratio of 84.62, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly 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 period last year, the company earned $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company increased their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five investment 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 stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target 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.