Cahill Financial Advisors Inc. Invests $501,000 in AbbVie Inc. (NYSE:ABBV)

Cahill Financial Advisors Inc. purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,819 shares of the company's stock, valued at approximately $501,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. increased its position in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Sky Investment Group LLC lifted its holdings in AbbVie by 10.1% in the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after purchasing an additional 3,936 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in AbbVie by 16.5% during the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company's stock worth $4,523,000 after purchasing an additional 3,654 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABBV. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.41.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.08% of the company's stock.

AbbVie Stock Up 0.4 %

NYSE:ABBV traded up $0.72 during midday trading on Wednesday, hitting $187.87. 5,770,215 shares of the company were exchanged, compared to its average volume of 6,094,269. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a market capitalization of $332.34 billion, a PE ratio of 78.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 fifty day simple moving average of $195.22 and a 200 day simple moving average of $187.27.

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

AbbVie Announces Dividend

The business 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 $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.49%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

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.