Grant Private Wealth Management Inc Makes New $301,000 Investment in AbbVie Inc. (NYSE:ABBV)

Grant Private Wealth Management Inc purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,694 shares of the company’s stock, valued at approximately $301,000.

Several other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its holdings in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares during the last quarter. Principal Financial Group Inc. lifted its stake in AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after purchasing an additional 273,078 shares during the last quarter. United Bank bought a new position in AbbVie in the 3rd quarter valued at approximately $217,000. Quantbot Technologies LP bought a new stake in shares of AbbVie during the third quarter worth $152,000. Finally, Morse Asset Management Inc grew its stake in shares of AbbVie by 2.4% during the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock worth $1,494,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.6 %

NYSE:ABBV opened at $204.93 on Thursday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. 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 $362.52 billion, a price-to-earnings ratio of 85.39, a PEG ratio of 1.62 and a beta of 0.61. The firm has a fifty day simple moving average of $199.66 and a two-hundred day simple moving average of $189.22.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid 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 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABBV shares. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.