6,846 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Alteri Wealth LLC

Alteri Wealth LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,846 shares of the company's stock, valued at approximately $1,217,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after buying an additional 983,888 shares during the last quarter. Capital Research Global Investors lifted its position in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at about $4,459,385,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Raymond James reissued an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday. Bank of America upped their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued 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 $211.41.

AbbVie Stock Performance

Shares of AbbVie stock opened at $198.62 on Friday. 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 cap of $351.35 billion, a price-to-earnings ratio of 82.76, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The stock's 50-day moving average is $196.14 and its 200-day moving average is $187.25.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

About AbbVie

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.

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.