Gitterman Wealth Management LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Gitterman Wealth Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,497 shares of the company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth about $29,000. Promus Capital LLC bought a new stake in AbbVie during the fourth quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth about $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $211.90 on Friday. The company has a market capitalization of $374.07 billion, a PE ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a 50 day simple moving average of $191.09 and a two-hundred day simple moving average of $188.10. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were 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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock valued at $11,377,057 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.45.

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.