Sound View Wealth Advisors Group LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,812 shares of the company's stock after buying an additional 1,436 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in AbbVie were worth $10,451,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of ABBV. Swedbank AB boosted its stake in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock valued at $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC raised its holdings in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after acquiring an additional 339 shares in the last quarter. Principal Financial Group Inc. raised its holdings in AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after acquiring an additional 273,078 shares in the last quarter. Consolidated Planning Corp raised its holdings in AbbVie by 12.8% in the third quarter. Consolidated Planning Corp now owns 2,088 shares of the company's stock valued at $412,000 after acquiring an additional 237 shares in the last quarter. Finally, TFB Advisors LLC raised its holdings in AbbVie by 3.4% in the third quarter. TFB Advisors LLC now owns 1,783 shares of the company's stock valued at $352,000 after acquiring an additional 59 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at AbbVie
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the 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 owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 Performance
NYSE:ABBV opened at $214.55 on Friday. The firm 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 company has a 50-day moving average of $187.63 and a 200-day moving average of $187.53. The company has a current ratio of 0.66, a quick ratio of 0.55 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 announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 last year, the company posted $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. 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%.
Analyst Ratings Changes
Several research firms recently issued reports on ABBV. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Finally, Piper Sandler Companies reissued an "overweight" rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.45.
Check Out Our Latest Analysis on ABBV
AbbVie Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV - Free Report).
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.
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
