IFP Advisors Inc Has $7.69 Million Position in AbbVie Inc. (NYSE:ABBV)

IFP Advisors Inc raised its stake in AbbVie Inc. (NYSE:ABBV) by 12.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,249 shares of the company’s stock after acquiring an additional 4,928 shares during the period. IFP Advisors Inc’s holdings in AbbVie were worth $7,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $35,000. Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of AbbVie during the third quarter worth about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABBV. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of ABBV opened at $202.03 on Monday. The firm has a market capitalization of $356.65 billion, a PE ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The company’s 50-day moving average is $181.25 and its 200-day moving average is $186.41. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter in the prior year, the firm earned $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

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.