Gimbal Financial Purchases New Stake in AbbVie Inc. (NYSE:ABBV)

Gimbal Financial purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,922 shares of the company’s stock, valued at approximately $453,000. AbbVie accounts for 0.5% of Gimbal Financial’s holdings, making the stock its 24th biggest position.

Several other institutional investors also recently added to or reduced their stakes in ABBV. Aspen Wealth Strategies LLC raised its position in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares in the last quarter. Avion Wealth raised its position in AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after acquiring an additional 65 shares in the last quarter. First Bank & Trust raised its position in AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after acquiring an additional 68 shares in the last quarter. Hudock Inc. raised its position in AbbVie by 2.5% during the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after acquiring an additional 68 shares in the last quarter. Finally, Clearwater Capital Advisors LLC raised its position in AbbVie by 3.9% during the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were 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 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 Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABBV. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays upped their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Up 0.9 %

NYSE:ABBV traded up $1.48 during trading hours on Monday, reaching $167.89. The company’s stock had a trading volume of 5,580,338 shares, compared to its average volume of 5,635,411. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business’s 50-day moving average is $175.44 and its 200-day moving average is $160.28. The company has a market cap of $297.27 billion, a price-to-earnings ratio of 61.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the business earned $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 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.