AbbVie Inc. (NYSE:ABBV) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 497,253 shares of the company's stock after purchasing an additional 44,335 shares during the quarter. NewEdge Advisors LLC's holdings in AbbVie were worth $88,362,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $29,000. EnRich Financial Partners LLC raised its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.25% of the company's stock.

AbbVie Trading Up 0.6 %

Shares of AbbVie stock traded up $1.10 during mid-day trading on Friday, hitting $172.78. 8,474,425 shares of the stock were exchanged, compared to its average volume of 6,005,419. 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 stock has a market capitalization of $305.64 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a 50-day simple moving average of $198.47 and a 200 day simple moving average of $187.76. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABBV shares. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $210.71.

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.