AbbVie Inc. (NYSE:ABBV) Position Increased by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,132 shares of the company’s stock after purchasing an additional 1,749 shares during the period. AbbVie comprises about 1.3% of Jackson Hole Capital Partners LLC’s portfolio, making the stock its 14th largest holding. Jackson Hole Capital Partners LLC’s holdings in AbbVie were worth $5,290,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Aspen Wealth Strategies LLC raised its holdings in shares of AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc raised its holdings in shares of AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares during the last quarter. Avion Wealth raised its holdings in shares of AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares during the last quarter. First Bank & Trust raised its holdings in shares of AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after buying an additional 68 shares during the last quarter. Finally, Hudock Inc. raised its holdings in shares of AbbVie by 2.5% in the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after buying an additional 68 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.3 %

NYSE ABBV traded down $0.52 during trading on Thursday, hitting $167.28. The stock had a trading volume of 5,502,087 shares, compared to its average volume of 5,594,213. The company has a market capitalization of $296.19 billion, a PE ratio of 61.28, a P/E/G ratio of 2.16 and a beta of 0.58. The company’s 50-day moving average price is $175.13 and its two-hundred day moving average price is $160.62. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Transactions at AbbVie

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 value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was 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 in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ABBV shares. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Barclays boosted their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.