Fourth Dimension Wealth LLC Takes $254,000 Position in AbbVie Inc. (NYSE:ABBV)

Fourth Dimension Wealth LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,430 shares of the company's stock, valued at approximately $254,000.

Other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in shares of AbbVie in the 4th quarter worth $309,000. Capital & Planning LLC grew its stake in shares of AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after acquiring an additional 105 shares during the last quarter. LaFleur & Godfrey LLC increased its holdings in shares of AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Octavia Wealth Advisors LLC raised its position in shares of AbbVie by 2.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,766 shares of the company's stock valued at $669,000 after purchasing an additional 84 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its stake in AbbVie by 11.5% in the 4th quarter. Aspire Private Capital LLC now owns 7,302 shares of the company's stock worth $1,297,000 after purchasing an additional 756 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Price Performance

Shares of AbbVie stock opened at $182.32 on Friday. The firm has a market cap of $322.05 billion, a PE ratio of 75.97, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a 50-day moving average price of $189.00 and a 200 day moving average price of $186.55.

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

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm'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 value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's 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 $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,693 shares of company stock valued at $22,282,985 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

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.

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