AbbVie Inc. (NYSE:ABBV) Shares Purchased by Core Wealth Partners LLC

Core Wealth Partners LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,170 shares of the company’s stock after buying an additional 286 shares during the period. Core Wealth Partners LLC’s holdings in AbbVie were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC grew its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the period. Armstrong Advisory Group Inc. grew its holdings in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after buying an additional 58 shares during the last quarter. Doliver Advisors LP increased its position in AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after acquiring an additional 59 shares during the period. Finally, Sound Financial Strategies Group LLC raised its stake in AbbVie by 5.3% during the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

Shares of ABBV opened at $201.12 on Wednesday. The company has a 50-day moving average of $195.65 and a two-hundred day moving average of $188.78. The stock has a market cap of $355.05 billion, a P/E ratio of 83.80, a PEG ratio of 1.62 and a beta of 0.61. 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.

AbbVie (NYSE:ABBV) last issued 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 period last year, the company earned $2.79 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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 payout ratio is 273.33%.

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.