Blankinship & Foster LLC Purchases Shares of 15,569 AbbVie Inc. (NYSE:ABBV)

Blankinship & Foster LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,569 shares of the company's stock, valued at approximately $2,767,000. AbbVie makes up approximately 0.7% of Blankinship & Foster LLC's portfolio, making the stock its 17th biggest position.

Several other hedge funds have also modified their holdings of ABBV. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC purchased a new position in AbbVie in the 4th quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at about $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.8 %

Shares of NYSE ABBV traded up $3.80 during midday trading on Friday, reaching $214.55. 6,800,068 shares of the stock were exchanged, compared to its average volume of 6,084,956. The company has a 50 day simple moving average of $187.63 and a 200 day simple moving average of $187.53. The stock has a market capitalization of $378.75 billion, a P/E ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $215.66.

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AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 quarter last year, the company posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABBV shares. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. BMO Capital Markets raised 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. Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.45.

AbbVie 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.