Pinnacle Wealth Management Advisory Group LLC Buys 3,947 Shares of AbbVie Inc. (NYSE:ABBV)

Pinnacle Wealth Management Advisory Group LLC grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 34.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,247 shares of the company's stock after buying an additional 3,947 shares during the period. Pinnacle Wealth Management Advisory Group LLC's holdings in AbbVie were worth $2,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp raised its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC boosted its stake in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after acquiring an additional 10,768 shares during the period. Institutional investors own 70.23% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on ABBV. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 target price for the company. Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Bank of America reiterated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

AbbVie Price Performance

NYSE ABBV traded up $1.05 on Wednesday, reaching $197.30. The company had a trading volume of 4,888,699 shares, compared to its average volume of 5,864,376. The stock has a market capitalization of $348.66 billion, a PE ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 firm's 50 day moving average price is $179.67 and its 200 day moving average price is $186.11.

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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.32%. AbbVie's dividend payout ratio (DPR) is 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.