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

Dopkins Wealth Management LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,150 shares of the company’s stock, valued at approximately $204,000.

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

AbbVie Stock Up 1.3 %

Shares of AbbVie stock opened at $214.45 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a 50 day moving average price of $191.78 and a two-hundred day moving average price of $188.18. The stock has a market capitalization of $378.57 billion, a P/E ratio of 89.35, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (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 in the prior year, the company earned $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current 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 paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. AbbVie’s payout ratio is presently 273.33%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23 % 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 Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on 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 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 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. Company insiders own 0.25% of the company’s stock.

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.