AbbVie Inc. (NYSE:ABBV) Shares Bought by Spirepoint Private Client LLC

Spirepoint Private Client LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,573 shares of the company's stock after acquiring an additional 1,553 shares during the period. Spirepoint Private Client LLC's holdings in AbbVie were worth $7,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC increased its position in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC grew its holdings in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after acquiring an additional 57 shares in the last quarter. Finally, Northstar Group Inc. raised its position in AbbVie by 0.7% in the first quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock worth $1,783,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABBV. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $211.29.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

AbbVie Trading Up 0.0%

Shares of NYSE ABBV traded up $0.09 during midday trading on Wednesday, reaching $185.64. 4,469,960 shares of the stock were exchanged, compared to its average volume of 6,224,158. The stock has a 50 day moving average price of $185.46 and a 200-day moving average price of $187.82. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $327.91 billion, a P/E ratio of 79.00, a P/E/G ratio of 1.22 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie's payout ratio 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.