Peterson Wealth Management Buys 679 Shares of AbbVie Inc. (NYSE:ABBV)

Peterson Wealth Management lifted its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,355 shares of the company’s stock after acquiring an additional 679 shares during the period. Peterson Wealth Management’s holdings in AbbVie were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First National Bank of Omaha increased its position in shares of AbbVie by 7.9% during the third quarter. First National Bank of Omaha now owns 8,460 shares of the company’s stock valued at $1,261,000 after acquiring an additional 620 shares in the last quarter. Glenmede Trust Co. NA grew its position in AbbVie by 3.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 445,943 shares of the company’s stock worth $66,472,000 after purchasing an additional 16,850 shares during the period. Truist Financial Corp grew its position in AbbVie by 2.0% in the 3rd quarter. Truist Financial Corp now owns 3,210,942 shares of the company’s stock worth $478,623,000 after purchasing an additional 62,836 shares during the period. AQR Capital Management LLC grew its position in AbbVie by 28.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,497,086 shares of the company’s stock worth $223,156,000 after purchasing an additional 331,662 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in AbbVie by 38.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 8,546 shares of the company’s stock worth $1,274,000 after purchasing an additional 2,378 shares during the period. Institutional investors own 67.86% of the company’s stock.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 2,912 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $8,649,312.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 2,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total transaction of $450,544.64. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $8,649,312.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,535 shares of company stock worth $12,075,887. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ABBV. Barclays lifted their target price on shares of AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $175.36.

Read Our Latest Stock Analysis on AbbVie

AbbVie Price Performance

ABBV stock traded up $2.59 during mid-day trading on Friday, hitting $178.64. The company had a trading volume of 2,581,435 shares, compared to its average volume of 5,247,013. The company has a market capitalization of $315.56 billion, a price-to-earnings ratio of 64.33, a P/E/G ratio of 2.26 and a beta of 0.57. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $179.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a 50-day moving average price of $167.02 and a 200 day moving average price of $153.87.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.60 EPS. On average, research analysts anticipate that AbbVie Inc. will post 11.14 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. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is 227.11%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet'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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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