SYM FINANCIAL Corp Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

SYM FINANCIAL Corp boosted its stake in AbbVie Inc. (NYSE:ABBV) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,652 shares of the company’s stock after buying an additional 118 shares during the quarter. SYM FINANCIAL Corp’s holdings in AbbVie were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Connecticut Wealth Management LLC raised its position in shares of AbbVie by 14.1% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,013 shares of the company’s stock valued at $312,000 after purchasing an additional 248 shares in the last quarter. Avidian Wealth Solutions LLC raised its position in shares of AbbVie by 4.1% in the 4th quarter. Avidian Wealth Solutions LLC now owns 14,357 shares of the company’s stock valued at $2,225,000 after purchasing an additional 564 shares in the last quarter. Avalon Trust Co raised its position in shares of AbbVie by 8.9% in the 4th quarter. Avalon Trust Co now owns 4,050 shares of the company’s stock valued at $628,000 after purchasing an additional 330 shares in the last quarter. TCG Advisory Services LLC raised its position in shares of AbbVie by 38.5% in the 4th quarter. TCG Advisory Services LLC now owns 58,648 shares of the company’s stock valued at $9,089,000 after purchasing an additional 16,293 shares in the last quarter. Finally, AJOVista LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $250,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 in the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.9 %

Shares of NYSE:ABBV traded up $2.98 during midday trading on Friday, reaching $163.79. The company had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. 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 1-year low of $130.96 and a 1-year high of $182.89. The firm has a market cap of $290.01 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. The company has a fifty day simple moving average of $173.13 and a two-hundred day simple moving average of $161.22.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $2.46 EPS. Research analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current 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 3.79%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three 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’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

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.