AbbVie Inc. (NYSE:ABBV) Shares Purchased by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,538 shares of the company’s stock after acquiring an additional 1,936 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in AbbVie were worth $9,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverpoint Wealth Management Holdings LLC grew its position in AbbVie by 1.1% in the 4th quarter. Riverpoint Wealth Management Holdings LLC now owns 7,968 shares of the company’s stock worth $1,235,000 after purchasing an additional 84 shares during the last quarter. Searle & CO. grew its position in AbbVie by 5.2% in the 4th quarter. Searle & CO. now owns 46,747 shares of the company’s stock worth $7,244,000 after purchasing an additional 2,300 shares during the last quarter. Concord Wealth Partners grew its position in AbbVie by 42.6% in the 4th quarter. Concord Wealth Partners now owns 19,637 shares of the company’s stock worth $3,043,000 after purchasing an additional 5,869 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in AbbVie in the 4th quarter worth about $44,000. Finally, ICW Investment Advisors LLC grew its position in AbbVie by 1.1% in the 4th quarter. ICW Investment Advisors LLC now owns 24,978 shares of the company’s stock worth $3,871,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 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 approximately $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABBV shares. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Down 0.6 %

NYSE:ABBV traded down $0.92 during trading hours on Wednesday, hitting $161.72. 5,176,347 shares of the company’s stock traded hands, compared to its average volume of 5,657,122. The firm has a market cap of $286.35 billion, a P/E ratio of 48.27, a P/E/G ratio of 2.04 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. 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 stock’s fifty day moving average price is $174.01 and its two-hundred day moving average price is $161.10.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating 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 firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

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.