Lineweaver Wealth Advisors LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Lineweaver Wealth Advisors LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,000 shares of the company’s stock after purchasing an additional 2,626 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in AbbVie were worth $2,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. grew its position in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets raised their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $203.08 on Thursday. The company has a 50 day moving average price of $183.08 and a 200 day moving average price of $186.72. The firm has a market capitalization of $358.51 billion, a P/E ratio of 84.62, a PEG ratio of 1.62 and a beta of 0.58. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly 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 previous year, the firm posted $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.