Core Wealth Partners LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Core Wealth Partners LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,170 shares of the company’s stock after buying an additional 286 shares during the quarter. Core Wealth Partners LLC’s holdings in AbbVie were worth $741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in AbbVie in the 4th quarter valued at $35,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 3.8 %

ABBV stock opened at $201.12 on Wednesday. The firm has a fifty day moving average price of $195.65 and a two-hundred day moving average price of $188.78. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm has a market cap of $355.05 billion, a price-to-earnings ratio of 83.80, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the company posted $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock 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, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were 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 approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 in the last three months. 0.25% of the stock is owned by insiders.

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.