AbbVie Inc. (NYSE:ABBV) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,818 shares of the company’s stock after purchasing an additional 1,119 shares during the period. EverSource Wealth Advisors LLC’s holdings in AbbVie were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of AbbVie by 1.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 69,595 shares of the company’s stock worth $12,367,000 after purchasing an additional 1,146 shares during the period. HighTower Advisors LLC lifted its holdings in AbbVie by 6.8% in the fourth quarter. HighTower Advisors LLC now owns 1,573,829 shares of the company’s stock valued at $279,669,000 after acquiring an additional 100,418 shares during the period. Windle Wealth LLC lifted its holdings in AbbVie by 4.7% in the fourth quarter. Windle Wealth LLC now owns 41,022 shares of the company’s stock valued at $7,290,000 after acquiring an additional 1,854 shares during the period. Moors & Cabot Inc. lifted its holdings in AbbVie by 0.9% in the fourth quarter. Moors & Cabot Inc. now owns 65,507 shares of the company’s stock valued at $11,641,000 after acquiring an additional 581 shares during the period. Finally, Natural Investments LLC acquired a new stake in AbbVie in the fourth quarter valued at $7,533,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABBV shares. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $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 sold 56,439 shares of company stock worth $11,377,057 in the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.8 %

ABBV opened at $211.80 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 market capitalization of $373.91 billion, a price-to-earnings ratio of 88.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business has a 50-day moving average of $189.84 and a two-hundred day moving average of $187.89. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 previous year, the firm posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 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.