AbbVie Inc. (NYSE:ABBV) Shares Bought by Mindset Wealth Management LLC

Mindset Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,071 shares of the company’s stock after buying an additional 69 shares during the period. AbbVie makes up approximately 0.4% of Mindset Wealth Management LLC’s holdings, making the stock its 18th largest position. Mindset Wealth Management LLC’s holdings in AbbVie were worth $1,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Paragon Capital Management LLC lifted its position in AbbVie by 20.1% during the 4th quarter. Paragon Capital Management LLC now owns 1,260 shares of the company’s stock worth $224,000 after acquiring an additional 211 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $1,126,000. Lee Danner & Bass Inc. grew its position in AbbVie by 12.4% in the 4th quarter. Lee Danner & Bass Inc. now owns 19,557 shares of the company’s stock valued at $3,475,000 after buying an additional 2,164 shares during the last quarter. Kiker Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at $456,000. Finally, AllSquare Wealth Management LLC raised its position in AbbVie by 4.2% during the 4th quarter. AllSquare Wealth Management LLC now owns 2,456 shares of the company’s stock worth $436,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,639 shares of company stock valued at $11,067,025. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $211.54 on Friday. The business’s 50-day moving average price is $193.80 and its 200 day moving average price is $188.64. 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 Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a market capitalization of $373.44 billion, a PE ratio of 88.14, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 previous year, the business earned $2.79 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

About AbbVie

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.