Strong Tower Advisory Services Purchases 362 Shares of AbbVie Inc. (NYSE:ABBV)

Strong Tower Advisory Services raised its position in AbbVie Inc. (NYSE:ABBV) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,653 shares of the company’s stock after buying an additional 362 shares during the quarter. Strong Tower Advisory Services’ holdings in AbbVie were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Syntax Advisors LLC raised its stake in shares of AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock valued at $225,000 after purchasing an additional 67 shares during the period. Goepper Burkhardt LLC boosted its holdings in shares of AbbVie by 1.9% in the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares in the last quarter. First Bank & Trust boosted its holdings in shares of AbbVie by 0.4% in the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares in the last quarter. Clearwater Capital Advisors LLC boosted its holdings in shares of AbbVie by 3.9% in the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares in the last quarter. Finally, Founders Capital Management LLC boosted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after purchasing an additional 70 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $181.97 on Friday. The business’s fifty day simple moving average is $174.51 and its two-hundred day simple moving average is $157.96. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a market cap of $322.21 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. Research analysts anticipate that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABBV. Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price for the company in a report on Monday, December 11th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last ninety days. Insiders own 0.25% of the company’s stock.

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.