Vantage Financial Partners LLC Purchases 1,105 Shares of AbbVie Inc. (NYSE:ABBV)

Vantage Financial Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 11.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,945 shares of the company’s stock after buying an additional 1,105 shares during the period. Vantage Financial Partners LLC’s holdings in AbbVie were worth $1,945,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the third quarter worth $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC grew its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABBV. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.95.

AbbVie Stock Performance

Shares of ABBV opened at $208.12 on Wednesday. The stock has a 50 day moving average of $185.64 and a 200 day moving average of $187.14. The company has a market capitalization of $367.40 billion, a price-to-earnings ratio of 86.72, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $215.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.