Global Wealth Management Investment Advisory Inc. Buys 364 Shares of AbbVie Inc. (NYSE:ABBV)

Global Wealth Management Investment Advisory Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 8,197 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in AbbVie were worth $1,270,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Cannell & Co. boosted its holdings in shares of AbbVie by 1.8% in the 4th quarter. Cannell & Co. now owns 230,806 shares of the company’s stock valued at $35,768,000 after buying an additional 4,060 shares during the last quarter. PYA Waltman Capital LLC lifted its stake in AbbVie by 14.0% in the fourth quarter. PYA Waltman Capital LLC now owns 15,806 shares of the company’s stock valued at $2,449,000 after acquiring an additional 1,939 shares during the last quarter. Fiducient Advisors LLC grew its position in shares of AbbVie by 22.1% in the 4th quarter. Fiducient Advisors LLC now owns 6,404 shares of the company’s stock valued at $992,000 after acquiring an additional 1,160 shares during the period. Paces Ferry Wealth Advisors LLC increased its stake in shares of AbbVie by 13.4% during the 4th quarter. Paces Ferry Wealth Advisors LLC now owns 2,472 shares of the company’s stock worth $383,000 after purchasing an additional 293 shares during the last quarter. Finally, Mach 1 Financial Group LLC raised its holdings in shares of AbbVie by 28.7% in the 4th quarter. Mach 1 Financial Group LLC now owns 18,798 shares of the company’s stock valued at $2,913,000 after purchasing an additional 4,187 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. 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 lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday. Three research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

AbbVie stock traded up $0.83 during midday trading on Wednesday, hitting $163.47. The company’s stock had a trading volume of 1,608,166 shares, compared to its average volume of 5,610,940. The company has a 50-day moving average price of $174.01 and a two-hundred day moving average price of $161.10. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a market cap of $289.45 billion, a price-to-earnings ratio of 48.27, a PEG ratio of 2.04 and a beta of 0.58. 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 (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current 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 issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was 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 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 383,324 shares of company stock valued at $67,780,003 over the last three months. 0.25% of the stock is owned by insiders.

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.