3,504 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. bought a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,504 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $4,459,385,000. Raymond James Financial Inc. bought a new stake in AbbVie during the 4th quarter valued at $1,190,951,000. FMR LLC raised its position in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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 transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” 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 stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America lifted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. 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. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Price Performance

Shares of ABBV opened at $186.11 on Tuesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company’s fifty day moving average price is $200.79 and its 200-day moving average price is $189.13. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm has a market capitalization of $329.22 billion, a PE ratio of 77.55, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 company posted $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.