Acorn Wealth Advisors LLC Has $360,000 Stake in AbbVie Inc. (NYSE:ABBV)

Acorn Wealth Advisors LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,025 shares of the company’s stock after selling 64 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in AbbVie were worth $360,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABBV. Fairhaven Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $201,000. Brown Financial Advisors raised its holdings in AbbVie by 7.2% in the 4th quarter. Brown Financial Advisors now owns 2,651 shares of the company’s stock valued at $471,000 after acquiring an additional 177 shares during the period. Trifecta Capital Advisors LLC lifted its position in AbbVie by 21.6% during the fourth quarter. Trifecta Capital Advisors LLC now owns 36,457 shares of the company’s stock worth $6,478,000 after acquiring an additional 6,474 shares during the last quarter. Mengis Capital Management Inc. grew its position in shares of AbbVie by 2.2% in the fourth quarter. Mengis Capital Management Inc. now owns 9,223 shares of the company’s stock valued at $1,639,000 after purchasing an additional 200 shares during the last quarter. Finally, CWS Financial Advisors LLC grew its position in shares of AbbVie by 15.3% in the fourth quarter. CWS Financial Advisors LLC now owns 5,560 shares of the company’s stock valued at $988,000 after purchasing an additional 739 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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 value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, 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 Trading Up 1.0 %

ABBV opened at $204.02 on Tuesday. The company’s 50 day moving average is $181.90 and its 200-day moving average is $186.51. The company has a market cap of $360.17 billion, a P/E ratio of 85.01, 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 $207.32. 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 (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business posted $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.22%. AbbVie’s payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABBV shares. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Five 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 stock. According to data from MarketBeat, the company currently has a consensus 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.