Wealth Alliance Purchases 2,091 Shares of AbbVie Inc. (NYSE:ABBV)

Wealth Alliance increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,731 shares of the company’s stock after acquiring an additional 2,091 shares during the quarter. AbbVie comprises about 0.6% of Wealth Alliance’s portfolio, making the stock its 28th largest holding. Wealth Alliance’s holdings in AbbVie were worth $3,988,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie in the third quarter valued at $36,000. PCA Investment Advisory Services Inc. purchased a new position in AbbVie in the 2nd quarter worth about $38,000. True Wealth Design LLC bought a new position in AbbVie during the 4th quarter worth about $39,000. Blue Bell Private Wealth Management LLC grew its holdings in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new position in AbbVie during the 3rd quarter worth about $45,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ABBV. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and lowered their price target for the company from $167.00 to $156.00 in a report on Monday, December 18th. Finally, Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV traded up $1.84 during trading on Tuesday, reaching $163.51. 2,673,823 shares of the company’s stock were exchanged, compared to its average volume of 5,633,727. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $289.52 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. The company’s fifty day simple moving average is $176.23 and its 200-day simple moving average is $159.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. As a group, research analysts predict that AbbVie Inc. will post 11.11 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.