Barlow Wealth Partners Inc. Invests $655,000 in AbbVie Inc. (NYSE:ABBV)

Barlow Wealth Partners Inc. acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,229 shares of the company’s stock, valued at approximately $655,000.

Other hedge funds also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its stake in AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in AbbVie in the fourth quarter worth $44,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 3rd quarter valued at $45,000. Core Wealth Advisors Inc. raised its stake in shares of 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 purchasing an additional 285 shares during the period. Finally, Bourgeon Capital Management LLC boosted its holdings in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

AbbVie Price Performance

Shares of ABBV stock traded down $2.15 during trading on Wednesday, hitting $160.40. The company had a trading volume of 5,906,428 shares, compared to its average volume of 5,662,472. The stock’s 50-day moving average is $172.48 and its two-hundred day moving average is $161.62. The stock has a market capitalization of $283.25 billion, a price-to-earnings ratio of 47.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the company earned $2.46 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.87%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.