951 Shares in AbbVie Inc. (NYSE:ABBV) Bought by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 951 shares of the company’s stock, valued at approximately $147,000.

Other large investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its stake in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $44,000. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the third quarter valued at approximately $45,000. Core Wealth Advisors Inc. lifted its position in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after acquiring an additional 285 shares in the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ABBV shares. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial raised 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. Three equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

ABBV traded down $1.06 on Monday, reaching $162.73. The company had a trading volume of 5,834,137 shares, compared to its average volume of 5,663,803. The stock has a 50-day moving average price of $173.13 and a 200-day moving average price of $161.39. The stock has a market capitalization of $288.14 billion, a PE ratio of 47.91, a P/E/G ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business 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 $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Transactions at AbbVie

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