Altman Advisors Inc. Purchases 283 Shares of AbbVie Inc. (NYSE:ABBV)

Altman Advisors Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,175 shares of the company’s stock after acquiring an additional 283 shares during the quarter. AbbVie accounts for approximately 1.0% of Altman Advisors Inc.’s holdings, making the stock its 21st largest holding. Altman Advisors Inc.’s holdings in AbbVie were worth $2,697,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $29,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter worth approximately $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABBV shares. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie 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. Morgan Stanley upped their price target on AbbVie from $239.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $210.71.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s 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 sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $174.90 on Friday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a 50 day moving average of $200.16 and a 200-day moving average of $188.49. The company has a market cap of $309.39 billion, a price-to-earnings ratio of 72.87, a PEG ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last released 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 period last year, the firm earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 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.