Accel Wealth Management Purchases 115 Shares of AbbVie Inc. (NYSE:ABBV)

Accel Wealth Management increased its position in AbbVie Inc. (NYSE:ABBV) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,632 shares of the company’s stock after buying an additional 115 shares during the quarter. Accel Wealth Management’s holdings in AbbVie were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goepper Burkhardt LLC raised its holdings in shares of AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after acquiring an additional 67 shares in the last quarter. Syntax Advisors LLC lifted its position in shares of AbbVie by 4.2% in the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. First Bank & Trust boosted its stake in shares of AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares in the last quarter. Clearwater Capital Advisors LLC increased its holdings in AbbVie by 3.9% during the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after buying an additional 69 shares during the period. Finally, Founders Capital Management LLC raised its stake in AbbVie by 0.3% in the third quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded up $1.16 during trading hours on Wednesday, hitting $180.35. 5,056,429 shares of the stock traded hands, compared to its average volume of 5,701,182. The firm’s 50 day moving average price is $174.15 and its 200-day moving average price is $157.81. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $319.34 billion, a price-to-earnings ratio of 66.06, a P/E/G ratio of 2.27 and a beta of 0.58. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating 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 firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm earned $3.60 earnings per share. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 SEC, which can be accessed through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the 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 sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction 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 of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and cut their price target for the company from $167.00 to $156.00 in a report on Monday, December 18th. Raymond James increased their price target 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. Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie 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.