AbbVie Inc. (NYSE:ABBV) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,899 shares of the company's stock after buying an additional 5,087 shares during the quarter. Larson Financial Group LLC's holdings in AbbVie were worth $4,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABBV shares. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. 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. 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. Finally, Raymond James reaffirmed an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

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Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 over the last 90 days. Insiders own 0.25% of the company's stock.

AbbVie Stock Up 1.8 %

Shares of NYSE ABBV traded up $3.80 during 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 market capitalization 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 business's 50-day moving average price is $187.63 and its 200 day moving average price is $187.53. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $215.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly 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 quarter last year, the firm earned $2.79 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 3.06%. AbbVie's payout ratio is 273.33%.

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.