1,221 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by PFW Advisors LLC

PFW Advisors LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The firm purchased 1,221 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of AbbVie in the 2nd quarter worth approximately $26,000. Groupama Asset Managment raised its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter valued at $28,000. Quest Partners LLC boosted its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter worth $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABBV shares. Morgan Stanley cut their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. 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. Finally, Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Five research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

ABBV opened at $176.94 on Tuesday. The stock has a market cap of $312.68 billion, a P/E ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a fifty day simple moving average of $178.00 and a 200 day simple moving average of $184.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

AbbVie 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.