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

Prestige Wealth Management Group LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,368 shares of the company’s stock after buying an additional 245 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in AbbVie were worth $776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC increased its position in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. United Bank purchased a new position in AbbVie during the third quarter worth about $217,000. Algert Global LLC purchased a new stake in AbbVie in the third quarter valued at approximately $1,436,000. Finally, Centaurus Financial Inc. increased its holdings in shares of AbbVie by 16.8% during the 3rd quarter. Centaurus Financial Inc. now owns 8,319 shares of the company’s stock worth $1,643,000 after buying an additional 1,199 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by insiders.

AbbVie Trading Down 0.4 %

AbbVie stock opened at $209.25 on Tuesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm’s 50-day moving average is $195.14 and its 200-day moving average is $188.73. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $369.40 billion, a P/E ratio of 87.19, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent research reports. Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Truist Financial lifted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price 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.