Dopkins Wealth Management LLC Buys New Stake in AbbVie Inc. (NYSE:ABBV)

Dopkins Wealth Management LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,150 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Haven Capital Group Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $4,095,000. BlackDiamond Wealth Management LLC grew its position in AbbVie by 5.0% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 2,277 shares of the company’s stock valued at $405,000 after acquiring an additional 109 shares during the period. Axxcess Wealth Management LLC raised its stake in AbbVie by 5.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 68,318 shares of the company’s stock worth $12,140,000 after acquiring an additional 3,570 shares in the last quarter. Aspen Wealth Strategies LLC lifted its holdings in shares of AbbVie by 2.8% during the fourth quarter. Aspen Wealth Strategies LLC now owns 10,306 shares of the company’s stock valued at $1,831,000 after acquiring an additional 277 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of AbbVie by 26.5% in the 4th quarter. Tocqueville Asset Management L.P. now owns 392,612 shares of the company’s stock valued at $69,767,000 after purchasing an additional 82,182 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $214.45 on Tuesday. The stock has a market cap of $378.57 billion, a PE ratio of 89.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock has a 50-day moving average of $191.78 and a 200-day moving average of $188.18. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 quarter last year, the firm posted $2.79 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. 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 report on Thursday, December 5th. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company’s stock.

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.