Fonville Wealth Management LLC Takes $300,000 Position in AbbVie Inc. (NYSE:ABBV)

Fonville Wealth Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,936 shares of the company’s stock, valued at approximately $300,000.

A number of other institutional investors have also modified their holdings of the company. Aspen Wealth Strategies LLC grew its stake in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares in the last quarter. Avion Wealth grew its stake in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after purchasing an additional 65 shares in the last quarter. Goepper Burkhardt LLC grew its stake in AbbVie by 1.9% during 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 grew its stake in AbbVie by 0.4% during 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. Finally, Hudock Inc. grew its stake in AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after purchasing an additional 68 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of AbbVie stock traded up $0.68 on Friday, hitting $165.34. The stock had a trading volume of 1,278,289 shares, compared to its average volume of 5,578,899. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market cap of $292.76 billion, a price-to-earnings ratio of 60.43, a P/E/G ratio of 2.11 and a beta of 0.58. The company’s 50 day moving average price is $175.59 and its 200 day moving average price is $159.97.

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 business had revenue of $14.30 billion during 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 business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.60 EPS. On average, research analysts anticipate that AbbVie Inc. will post 11.18 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed 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. This represents a $6.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

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.