IMA Wealth Inc. Has $1.83 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

IMA Wealth Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,783 shares of the company’s stock after selling 1,077 shares during the quarter. IMA Wealth Inc.’s holdings in AbbVie were worth $1,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. DeDora Capital Inc. increased its position in AbbVie by 5.0% during the third quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock worth $2,803,000 after buying an additional 898 shares during the last quarter. Goldstein Advisors LLC increased its position in AbbVie by 11.9% during the third quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock worth $722,000 after buying an additional 514 shares during the last quarter. SS&H Financial Advisors Inc. acquired a new position in AbbVie during the third quarter worth approximately $7,748,000. Next Capital Management LLC acquired a new position in AbbVie during the third quarter worth approximately $261,000. Finally, Opal Wealth Advisors LLC increased its position in AbbVie by 1.2% during the third quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock worth $1,012,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ABBV shares. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three 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 company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

Shares of ABBV stock traded down $7.67 during trading on Friday, hitting $159.62. The company had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The stock’s 50-day moving average price is $174.59 and its 200 day moving average price is $160.74. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.88%. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last three months. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.