4,186 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,186 shares of the company’s stock, valued at approximately $649,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Syntegra Private Wealth Group LLC increased its position in AbbVie by 3.4% during the fourth quarter. Syntegra Private Wealth Group LLC now owns 13,941 shares of the company’s stock worth $2,160,000 after buying an additional 455 shares during the last quarter. Navalign LLC increased its position in AbbVie by 5.6% during the fourth quarter. Navalign LLC now owns 2,840 shares of the company’s stock worth $440,000 after buying an additional 150 shares during the last quarter. Saxon Interests Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $547,000. Access Financial Services Inc. increased its position in AbbVie by 4.3% during the fourth quarter. Access Financial Services Inc. now owns 11,304 shares of the company’s stock worth $1,752,000 after buying an additional 471 shares during the last quarter. Finally, Yarger Wealth Strategies LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $201,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV traded up $1.62 on Thursday, hitting $181.97. 5,418,371 shares of the company’s stock were exchanged, compared to its average volume of 5,696,566. The stock has a 50-day moving average of $174.51 and a 200-day moving average of $157.96. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The stock has a market cap of $322.21 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the company earned $3.60 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The firm 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 dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is presently 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.