Spire Wealth Management Has $4.98 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Spire Wealth Management decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 48.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,239 shares of the company’s stock after selling 28,814 shares during the period. Spire Wealth Management’s holdings in AbbVie were worth $4,983,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the 4th quarter worth $44,000. Horrell Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at $45,000. Core Wealth Advisors Inc. lifted its position in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.6 %

AbbVie stock traded down $1.06 during midday trading on Monday, reaching $162.73. The stock had a trading volume of 5,834,137 shares, compared to its average volume of 5,663,803. The stock has a market capitalization of $288.14 billion, a P/E ratio of 47.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm’s fifty day simple moving average is $173.13 and its 200-day simple moving average is $161.39. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 earnings per share. As a group, analysts expect that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.81%. AbbVie’s dividend payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABBV shares. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Truist Financial lifted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.31.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the 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 transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. 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 over the last three months. Insiders own 0.25% of the company’s stock.

AbbVie 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.