Roxbury Financial LLC Invests $496,000 in AbbVie Inc. (NYSE:ABBV)

Roxbury Financial LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,712 shares of the company’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Scarborough Advisors LLC lifted its position in shares of AbbVie by 41.8% during the fourth quarter. Scarborough Advisors LLC now owns 1,570 shares of the company’s stock worth $279,000 after purchasing an additional 463 shares during the last quarter. BXM Wealth LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $609,000. Spinnaker Trust increased its stake in shares of AbbVie by 8.2% during the fourth quarter. Spinnaker Trust now owns 16,784 shares of the company’s stock valued at $2,983,000 after buying an additional 1,275 shares during the period. WASHINGTON TRUST Co increased its stake in shares of AbbVie by 0.4% during the fourth quarter. WASHINGTON TRUST Co now owns 30,143 shares of the company’s stock valued at $5,356,000 after buying an additional 127 shares during the period. Finally, PUREfi Wealth LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $525,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.2 %

AbbVie stock opened at $193.00 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The stock has a 50-day moving average price of $178.59 and a 200 day moving average price of $185.96.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABBV shares. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Company 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.