Investor s Fiduciary Advisor Network LLC Buys New Stake in AbbVie Inc. (NYSE:ABBV)

Investor s Fiduciary Advisor Network LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,833 shares of the company's stock, valued at approximately $858,000.

Other large investors have also recently added to or reduced their stakes in the company. Iron Triangle Partners LP purchased a new stake in shares of AbbVie in the fourth quarter worth about $66,462,000. Humankind Investments LLC boosted its stake in shares of AbbVie by 22.1% during the 4th quarter. Humankind Investments LLC now owns 18,323 shares of the company's stock valued at $3,256,000 after buying an additional 3,316 shares during the last quarter. Guardian Wealth Advisors LLC NC boosted its stake in AbbVie by 9.8% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 8,561 shares of the company's stock valued at $1,521,000 after acquiring an additional 761 shares during the last quarter. Forest Hill Capital LLC lifted its position in shares of AbbVie by 16.7% during the fourth quarter. Forest Hill Capital LLC now owns 4,200 shares of the company's stock worth $746,000 after purchasing an additional 600 shares during the last quarter. Finally, Elefante Mark B bought a new position in AbbVie during the 4th quarter worth approximately $638,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABBV shares. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. StockNews.com raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. 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. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.41.

AbbVie Stock Down 0.7 %

ABBV stock opened at $184.30 on Friday. The firm's 50-day moving average is $194.23 and its two-hundred day moving average is $187.23. The company has a market capitalization of $326.02 billion, a price-to-earnings ratio of 76.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

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

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 3.56%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is currently 279.15%.

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.

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