AbbVie Inc. (NYSE:ABBV) Shares Purchased by IFG Advisory LLC

IFG Advisory LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 53.6% in the fourth quarter, HoldingsChannel reports. The firm owned 37,307 shares of the company’s stock after acquiring an additional 13,022 shares during the period. IFG Advisory LLC’s holdings in AbbVie were worth $5,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hibernia Wealth Partners LLC acquired a new position in AbbVie during the 3rd quarter valued at about $36,000. VitalStone Financial LLC raised its position in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after buying an additional 166 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $39,000. KB Financial Partners LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $45,000. Finally, PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie during the 2nd quarter worth about $38,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $180.35 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $319.34 billion, a PE ratio of 66.06, a PEG ratio of 2.27 and a beta of 0.58. The company’s 50-day moving average is $174.15 and its two-hundred day moving average is $157.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. Equities analysts anticipate that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.44%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets boosted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Monday, December 11th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.43.

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.