Wealth Dimensions Group Ltd. Raises Stake in AbbVie Inc. (NYSE:ABBV)

Wealth Dimensions Group Ltd. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,306 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in AbbVie were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ABBV. O Dell Group LLC grew its stake in shares of AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of AbbVie by 85.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after acquiring an additional 93 shares during the last quarter. Align Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $27,000. Red Tortoise LLC acquired a new position in AbbVie in the fourth quarter valued at $27,000. Finally, My Personal CFO LLC purchased a new stake in AbbVie during the fourth quarter valued at about $32,000. 67.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $9,280,095.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 12,135 shares of the company’s 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 $1,857,625.80. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,588,511.16. The disclosure for this sale can be found here. Insiders have sold 128,356 shares of company stock valued at $19,901,151 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

AbbVie Stock Down 0.9 %

ABBV traded down $1.26 during midday trading on Friday, hitting $137.36. The company had a trading volume of 2,739,813 shares, compared to its average volume of 5,822,836. AbbVie Inc. has a 52 week low of $134.09 and a 52 week high of $168.11. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $242.34 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.57 and a beta of 0.58. The stock’s 50 day moving average price is $154.18 and its 200 day moving average price is $154.85.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. The company had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. AbbVie’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.16 EPS. On average, research analysts anticipate that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABBV shares. SVB Leerink raised AbbVie from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $135.00 to $153.00 in a research report on Friday, February 10th. Barclays lifted their target price on AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Argus cut AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Piper Sandler lifted their price target on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. Finally, BMO Capital Markets decreased their target price on AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a report on Monday, February 6th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $163.40.

About AbbVie

(Get Rating)

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.