Burling Wealth Partners LLC Purchases Shares of 39,906 AbbVie Inc. (NYSE:ABBV)

Burling 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 Securities & Exchange Commission. The fund acquired 39,906 shares of the company's stock, valued at approximately $7,091,000. AbbVie accounts for about 1.4% of Burling Wealth Partners LLC's holdings, making the stock its 14th largest holding.

A number of other large investors have also recently made changes to their positions in ABBV. Norges Bank acquired a new stake in AbbVie during the 4th quarter valued at approximately $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie during the fourth quarter valued at $1,190,951,000. FMR LLC boosted its holdings in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after buying an additional 3,373,156 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. StockNews.com cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 9th. Raymond James reiterated an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.19.

AbbVie Price Performance

ABBV stock opened at $177.28 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. 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 firm has a market capitalization of $313.60 billion, a PE ratio of 73.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The business has a 50 day simple moving average of $197.30 and a 200-day simple moving average of $187.37.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 period in the previous year, the firm earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie's dividend payout ratio 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.

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