Sulzberger Capital Advisors Inc. Invests $483,000 in AbbVie Inc. (NYSE:ABBV)

Sulzberger Capital Advisors Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,718 shares of the company's stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter worth $29,000. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the period. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position 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 Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie 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 transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

NYSE:ABBV traded up $5.28 during midday trading on Friday, reaching $198.62. The stock had a trading volume of 6,424,665 shares, compared to its average volume of 6,081,995. The stock has a market capitalization of $351.35 billion, a P/E ratio of 82.76, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm's fifty day simple moving average is $196.14 and its 200-day simple moving average is $187.23.

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 the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.30%. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley raised their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, UBS Group upped their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $211.41.

About AbbVie

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.