Raymond James Financial Services Advisors Inc. increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,095,774 shares of the company's stock after purchasing an additional 18,438 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.06% of AbbVie worth $199,540,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lokken Investment Group LLC increased its position in shares of AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company's stock valued at $258,000 after purchasing an additional 58 shares during the period. Aspen Wealth Strategies LLC raised its stake in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company's stock valued at $1,776,000 after buying an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company's stock valued at $349,000 after buying an additional 63 shares in the last quarter. Spinnaker Investment Group LLC lifted its holdings in shares of AbbVie by 1.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company's stock worth $741,000 after acquiring an additional 64 shares during the period. Finally, Avion Wealth boosted its position in shares of AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company's stock valued at $95,000 after acquiring an additional 65 shares in the last quarter. 70.23% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ABBV shares. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Barclays decreased their price target on AbbVie from $195.00 to $187.00 and set an "overweight" rating on the stock in a research note on Monday. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a report on Monday. William Blair upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Finally, Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.31.
Get Our Latest Research Report on ABBV
Insiders Place Their Bets
In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company's stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
AbbVie Trading Up 0.7 %
Shares of NYSE:ABBV traded up $1.17 during midday trading on Tuesday, hitting $162.69. The company had a trading volume of 5,479,940 shares, compared to its average volume of 5,662,850. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The firm has a fifty day simple moving average of $174.01 and a 200 day simple moving average of $161.10. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market cap of $288.07 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 2.03 and a beta of 0.58.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts' expectations of $11.93 billion. During the same period in the prior year, the business posted $2.46 EPS. AbbVie's revenue was up .7% on a year-over-year basis. On average, analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.81%. AbbVie's dividend payout ratio is presently 183.98%.
AbbVie Company Profile
(
Free Report)
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.
Further Reading
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