Lionshead Wealth Management LLC Acquires Shares of 3,159 AbbVie Inc. (NYSE:ABBV)

Lionshead Wealth Management LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,159 shares of the company's stock, valued at approximately $561,000.

Other hedge funds have also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $10.70 during midday trading on Wednesday, reaching $177.30. The company had a trading volume of 12,199,271 shares, compared to its average volume of 6,208,808. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $313.64 billion, a price-to-earnings ratio of 73.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The stock has a fifty day simple moving average of $193.34 and a 200 day simple moving average of $187.23. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 279.15%.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction 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 directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last quarter. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

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.