Bigelow Investment Advisors LLC Takes $255,000 Position in AbbVie Inc. (NYSE:ABBV)

Bigelow Investment Advisors LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,648 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. bought a new position in AbbVie in the 2nd quarter worth approximately $38,000. True Wealth Design LLC bought a new position in AbbVie during the 4th quarter valued at $39,000. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Horrell Capital Management Inc. bought a new position in AbbVie during the 3rd quarter valued at $45,000. Finally, KB Financial Partners LLC bought a new position in AbbVie during the 1st quarter valued at $45,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $166.42 on Friday. The stock has a market cap of $294.67 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 2.12 and a beta of 0.58. The business has a fifty day simple moving average of $175.44 and a 200-day simple moving average of $160.10. The company has a quick ratio of 0.76, a current ratio of 0.87 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.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued 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 dividend yield of 3.73%. AbbVie’s dividend payout ratio is 227.11%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Three 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 an average rating of “Moderate Buy” and a consensus price target of $177.43.

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.