Jackson Hole Capital Partners LLC Buys 1,797 Shares of AbbVie Inc. (NYSE:ABBV)

Jackson Hole Capital Partners LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,947 shares of the company’s stock after purchasing an additional 1,797 shares during the quarter. AbbVie makes up about 1.3% of Jackson Hole Capital Partners LLC’s holdings, making the stock its 17th largest position. Jackson Hole Capital Partners LLC’s holdings in AbbVie were worth $6,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Groupama Asset Managment lifted its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth $29,000. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at $31,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Performance

Shares of ABBV stock opened at $214.55 on Friday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66. The stock has a 50 day moving average price of $187.63 and a two-hundred day moving average price of $187.53. The company has a market capitalization of $378.75 billion, a P/E ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.