Grant Private Wealth Management Inc Invests $301,000 in AbbVie Inc. (NYSE:ABBV)

Grant Private Wealth Management Inc purchased a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The fund purchased 1,694 shares of the company’s stock, valued at approximately $301,000.

Other large investors have also added to or reduced their stakes in the company. Arete Wealth Advisors LLC grew its holdings in AbbVie by 26.0% during the fourth quarter. Arete Wealth Advisors LLC now owns 31,231 shares of the company’s stock valued at $5,539,000 after purchasing an additional 6,445 shares during the period. World Investment Advisors grew its stake in shares of AbbVie by 33.3% during the 4th quarter. World Investment Advisors now owns 64,495 shares of the company’s stock worth $11,461,000 after acquiring an additional 16,105 shares during the period. Nicolet Advisory Services LLC raised its stake in AbbVie by 2.4% in the 4th quarter. Nicolet Advisory Services LLC now owns 11,486 shares of the company’s stock valued at $2,012,000 after acquiring an additional 264 shares during the period. Disciplined Investors L.L.C. purchased a new stake in AbbVie during the fourth quarter valued at about $217,000. Finally, OneAscent Financial Services LLC boosted its position in AbbVie by 17.0% during the fourth quarter. OneAscent Financial Services LLC now owns 10,272 shares of the company’s stock worth $1,825,000 after purchasing an additional 1,490 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABBV shares. BMO Capital Markets upped their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Finally, Guggenheim upped their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Down 0.6 %

Shares of NYSE:ABBV opened at $204.93 on Thursday. The stock has a market capitalization of $362.52 billion, a P/E ratio of 85.39, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock’s 50-day moving average price is $199.66 and its 200-day moving average price is $189.22. 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 Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

About AbbVie

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.