Atria Investments Inc Purchases 4,237 Shares of AbbVie Inc. (NYSE:ABBV)

Atria Investments Inc increased its position in AbbVie Inc. (NYSE:ABBV) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,857 shares of the company’s stock after buying an additional 4,237 shares during the quarter. Atria Investments Inc’s holdings in AbbVie were worth $31,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ABBV. Swedbank AB boosted its stake in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its position in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the period. Moloney Securities Asset Management LLC boosted its stake in shares of AbbVie by 2.5% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,345 shares of the company’s stock valued at $4,413,000 after purchasing an additional 554 shares in the last quarter. Alterna Wealth Management Inc. purchased a new stake in AbbVie in the third quarter worth about $209,000. Finally, FSM Wealth Advisors LLC lifted its stake in shares of AbbVie by 3.0% in the 3rd quarter. FSM Wealth Advisors LLC now owns 5,232 shares of the company’s stock valued at $1,033,000 after purchasing an additional 151 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Wells Fargo & Company boosted their target price on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial boosted their price objective 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 Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $209.95.

AbbVie Trading Down 1.6 %

Shares of NYSE ABBV opened at $208.12 on Wednesday. The stock has a market capitalization of $367.40 billion, a P/E ratio of 86.72, a PEG 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 $215.66. The business’s 50 day moving average is $185.64 and its two-hundred day moving average is $187.14. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company posted $2.79 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.