AbbVie Inc. (NYSE:ABBV) Shares Purchased by WP Advisors LLC

WP Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 33,764 shares of the company’s stock after purchasing an additional 349 shares during the quarter. AbbVie accounts for about 2.0% of WP Advisors LLC’s holdings, making the stock its 14th biggest holding. WP Advisors LLC’s holdings in AbbVie were worth $6,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Cordatus Wealth Management LLC increased its holdings in shares of AbbVie by 4.2% during the fourth quarter. Cordatus Wealth Management LLC now owns 15,980 shares of the company’s stock valued at $2,840,000 after acquiring an additional 642 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $170,000. Waterfront Wealth Inc. increased its holdings in shares of AbbVie by 25.5% during the fourth quarter. Waterfront Wealth Inc. now owns 10,189 shares of the company’s stock valued at $1,811,000 after acquiring an additional 2,071 shares in the last quarter. Forte Capital LLC ADV boosted its position in AbbVie by 0.7% in the fourth quarter. Forte Capital LLC ADV now owns 16,356 shares of the company’s stock valued at $2,906,000 after buying an additional 111 shares during the last quarter. Finally, ING Groep NV boosted its position in AbbVie by 78.7% in the fourth quarter. ING Groep NV now owns 598,335 shares of the company’s stock valued at $106,324,000 after buying an additional 263,557 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.8 %

Shares of NYSE:ABBV opened at $200.98 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market capitalization of $354.80 billion, a price-to-earnings ratio of 83.74, a price-to-earnings-growth ratio of 1.56 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s 50 day moving average price is $180.12 and its 200-day moving average price is $186.19.

AbbVie (NYSE:ABBV) last announced 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 257.91%. During the same period in the previous year, the business posted $2.79 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.