Leigh Baldwin & CO. LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Leigh Baldwin & CO. LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 308,985 shares of the company's stock, valued at approximately $54,907,000.

Other hedge funds have also added to or reduced their stakes in the company. Czech National Bank increased its position in AbbVie by 6.5% in the 4th quarter. Czech National Bank now owns 383,151 shares of the company's stock valued at $68,086,000 after acquiring an additional 23,328 shares during the period. Aprio Wealth Management LLC lifted its stake in shares of AbbVie by 5.8% in the fourth quarter. Aprio Wealth Management LLC now owns 5,507 shares of the company's stock valued at $979,000 after buying an additional 301 shares in the last quarter. Matrix Trust Co raised its holdings in shares of AbbVie by 3.1% in the fourth quarter. Matrix Trust Co now owns 13,839 shares of the company's stock valued at $2,459,000 after purchasing an additional 420 shares during the last quarter. Winthrop Advisory Group LLC raised its holdings in shares of AbbVie by 34.3% in the fourth quarter. Winthrop Advisory Group LLC now owns 4,494 shares of the company's stock valued at $799,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in shares of AbbVie by 223.4% in the fourth quarter. Fiduciary Alliance LLC now owns 15,847 shares of the company's stock valued at $2,816,000 after purchasing an additional 10,947 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.7%

ABBV opened at $184.30 on Monday. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a market capitalization of $326.02 billion, a PE ratio of 76.79, a PEG ratio of 1.62 and a beta of 0.56. The firm's 50 day simple moving average is $194.23 and its two-hundred day simple moving average is $187.21.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company'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 company posted $2.31 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.56%. AbbVie's payout ratio is currently 279.15%.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated 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 owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last three months. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America boosted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.41.

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.

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