Arkadios Wealth Advisors Purchases 3,679 Shares of AbbVie Inc. (NYSE:ABBV)

Arkadios Wealth Advisors grew its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 17.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,587 shares of the company’s stock after acquiring an additional 3,679 shares during the period. Arkadios Wealth Advisors’ holdings in AbbVie were worth $3,973,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. O Dell Group LLC increased its position in shares of AbbVie by 108.7% during the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Oliver Lagore Vanvalin Investment Group increased its position in shares of AbbVie by 85.3% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after buying an additional 93 shares during the period. Align Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at about $27,000. Activest Wealth Management purchased a new position in shares of AbbVie during the third quarter valued at about $31,000. Finally, Clear Perspectives Financial Planning LLC purchased a new position in shares of AbbVie during the third quarter valued at about $33,000. 67.71% of the stock is owned by institutional investors.

AbbVie Trading Down 0.7 %

Shares of NYSE ABBV opened at $154.22 on Friday. The firm’s 50 day moving average price is $151.13 and its 200-day moving average price is $150.93. The company has a market cap of $272.88 billion, a PE ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62. AbbVie Inc. has a 52-week low of $134.09 and a 52-week high of $175.91. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96.

AbbVie (NYSE:ABBV – Get Rating) last issued its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The firm had revenue of $15.12 billion for the quarter, compared to the consensus estimate of $15.30 billion. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.31 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, April 13th. This represents a $5.92 dividend on an annualized basis and a yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is 89.56%.

Insider Activity at AbbVie

In related news, CFO Scott T. Reents sold 15,942 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the transaction, the chief financial officer now owns 809 shares in the company, valued at $123,841.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, SVP Carrie C. Strom sold 28,541 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $151.04, for a total value of $4,310,832.64. Following the transaction, the senior vice president now directly owns 37,921 shares in the company, valued at $5,727,587.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott T. Reents sold 15,942 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the completion of the transaction, the chief financial officer now owns 809 shares in the company, valued at $123,841.72. The disclosure for this sale can be found here. Insiders have sold a total of 159,746 shares of company stock worth $24,267,450 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. BMO Capital Markets reduced their price target on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. Piper Jaffray Companies upped their price objective on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Piper Sandler upped their price objective on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. SVB Leerink upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $135.00 to $153.00 in a report on Friday, February 10th. Finally, Atlantic Securities cut their price objective on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.12.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.