4,404 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Arcus Capital Partners LLC

Arcus Capital Partners LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,404 shares of the company's stock, valued at approximately $802,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Root Financial Partners LLC grew its holdings in AbbVie by 42.0% during the 4th quarter. Root Financial Partners LLC now owns 2,550 shares of the company's stock worth $453,000 after acquiring an additional 754 shares during the period. Walkner Condon Financial Advisors LLC grew its stake in AbbVie by 7.4% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 2,052 shares of the company's stock worth $365,000 after purchasing an additional 142 shares during the period. Bogart Wealth LLC grew its stake in AbbVie by 13.3% during the fourth quarter. Bogart Wealth LLC now owns 4,215 shares of the company's stock worth $749,000 after purchasing an additional 495 shares during the period. Catalyst Financial Partners LLC increased its holdings in AbbVie by 2.9% in the fourth quarter. Catalyst Financial Partners LLC now owns 12,832 shares of the company's stock worth $2,280,000 after purchasing an additional 363 shares in the last quarter. Finally, Attessa Capital LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $476,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBV. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Citigroup increased their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Five 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

AbbVie stock traded down $0.45 during mid-day trading on Monday, reaching $193.00. 3,974,116 shares of the company's stock were exchanged, compared to its average volume of 6,372,861. The firm has a market capitalization of $341.05 billion, a PE ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business's fifty day simple moving average is $178.93 and its 200 day simple moving average is $186.04. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. AbbVie's payout ratio is currently 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.