Axis Wealth Partners LLC Invests $315,000 in AbbVie Inc. (NYSE:ABBV)

Axis Wealth Partners LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,771 shares of the company's stock, valued at approximately $315,000.

Several other large investors also recently bought and sold shares of the company. United Community Bank grew its holdings in shares of AbbVie by 1.8% during the fourth quarter. United Community Bank now owns 5,942 shares of the company's stock worth $1,056,000 after buying an additional 107 shares in the last quarter. Barings LLC grew its position in shares of AbbVie by 56.7% in the fourth quarter. Barings LLC now owns 1,628 shares of the company's stock valued at $289,000 after purchasing an additional 589 shares in the last quarter. Pillar Financial Advisors LLC purchased a new stake in AbbVie in the 4th quarter valued at $107,000. Atlantic Union Bankshares Corp raised its holdings in shares of AbbVie by 12.1% during the 4th quarter. Atlantic Union Bankshares Corp now owns 106,586 shares of the company's stock worth $18,940,000 after acquiring an additional 11,474 shares during the period. Finally, Amundi raised its holdings in shares of AbbVie by 9.4% during the 4th quarter. Amundi now owns 8,347,296 shares of the company's stock worth $1,489,992,000 after acquiring an additional 717,403 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. Insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $214.55 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market cap of $378.75 billion, a price-to-earnings ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock's 50-day moving average is $187.63 and its two-hundred day moving average is $187.53. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66.

Remove Ads

AbbVie (NYSE:ABBV - Get Free Report) last issued its 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 last year, the firm posted $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Analyst Ratings Changes

Several research firms have recently commented on ABBV. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They set an "outperform" rating and a $205.00 target price on the stock. Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.