McGlone Suttner Wealth Management Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

McGlone Suttner Wealth Management Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,046 shares of the company’s stock after purchasing an additional 390 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in AbbVie were worth $1,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Goepper Burkhardt LLC increased its position in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares during the period. Syntax Advisors LLC increased its position in shares of AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock valued at $225,000 after purchasing an additional 67 shares during the last quarter. First Bank & Trust increased its position in shares of AbbVie by 0.4% during the 4th 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 during the last quarter. Clearwater Capital Advisors LLC increased its holdings in AbbVie by 3.9% in the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after acquiring an additional 69 shares during the last quarter. Finally, Founders Capital Management LLC increased its holdings in AbbVie by 0.3% in the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after acquiring an additional 70 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. HSBC cut AbbVie from a “buy” rating to a “hold” rating and reduced their target price for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Raymond James boosted 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. BMO Capital Markets boosted their target price on AbbVie from $187.00 to $195.00 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. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

AbbVie stock traded up $1.62 during mid-day trading on Thursday, reaching $181.97. 5,418,371 shares of the stock traded hands, compared to its average volume of 5,696,566. 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 business’s 50-day moving average is $174.51 and its 200-day moving average is $157.96. The stock has a market capitalization of $322.21 billion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.60 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Activity at AbbVie

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 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 can be accessed through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s 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 owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s 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 transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by company insiders.

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.