BIP Wealth LLC Acquires 490 Shares of AbbVie Inc. (NYSE:ABBV)

BIP Wealth LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,661 shares of the company’s stock after purchasing an additional 490 shares during the period. BIP Wealth LLC’s holdings in AbbVie were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspen Wealth Strategies LLC increased its position in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares during the period. Marks Group Wealth Management Inc increased its position in shares of AbbVie by 2.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares during the period. Avion Wealth increased its position in shares of AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares during the period. First Bank & Trust increased its position in shares of AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after buying an additional 68 shares during the period. Finally, Hudock Inc. increased its position in shares of AbbVie by 2.5% during the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after buying an additional 68 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through this link. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $0.43 during trading hours on Thursday, reaching $167.37. The company’s stock had a trading volume of 2,710,311 shares, compared to its average volume of 5,557,606. The firm has a 50 day moving average price of $175.13 and a 200-day moving average price of $160.62. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market cap of $296.35 billion, a P/E ratio of 60.97, a P/E/G ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the company earned $3.60 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.