Pillar Financial Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Pillar Financial Advisors LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 600 shares of the company’s stock, valued at approximately $107,000.

A number of other hedge funds also recently made changes to their positions in ABBV. Atlantic Union Bankshares Corp increased its stake in shares of AbbVie by 12.1% in the fourth quarter. Atlantic Union Bankshares Corp now owns 106,586 shares of the company’s stock worth $18,940,000 after buying an additional 11,474 shares during the last quarter. Amundi increased its stake in shares of AbbVie by 9.4% in the fourth quarter. Amundi now owns 8,347,296 shares of the company’s stock worth $1,489,992,000 after buying an additional 717,403 shares during the last quarter. Permanent Capital Management LP bought a new stake in shares of AbbVie in the fourth quarter worth $230,000. Dorsey & Whitney Trust CO LLC increased its stake in shares of AbbVie by 0.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 35,607 shares of the company’s stock worth $6,327,000 after buying an additional 182 shares during the last quarter. Finally, Naviter Wealth LLC increased its stake in shares of AbbVie by 43.1% in the fourth quarter. Naviter Wealth LLC now owns 19,056 shares of the company’s stock worth $3,386,000 after buying an additional 5,736 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $214.55 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66. The firm’s 50-day simple moving average is $187.63 and its 200 day simple moving average is $187.59. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $378.75 billion, a P/E ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 in the prior year, the firm earned $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 EPS 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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBV shares. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by corporate insiders.

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.