Beacon Harbor Wealth Advisors Inc. Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Beacon Harbor Wealth Advisors Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,415 shares of the company’s stock after acquiring an additional 1,225 shares during the quarter. AbbVie comprises 1.6% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 24th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in AbbVie were worth $7,004,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.9 %

NYSE:ABBV opened at $211.61 on Thursday. The firm has a market cap of $373.57 billion, a PE ratio of 88.17, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The stock has a fifty day moving average price of $186.27 and a 200 day moving average price of $187.31. 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 released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the business earned $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insiders Place Their Bets

In other AbbVie news, 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 sale, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.