AbbVie Inc. (NYSE:ABBV) Shares Bought by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,460 shares of the company’s stock after purchasing an additional 120 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in AbbVie were worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hibernia Wealth Partners LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the 2nd quarter valued at approximately $38,000. True Wealth Design LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in shares of AbbVie during the 3rd quarter valued at approximately $45,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.2 %

Shares of NYSE:ABBV traded up $0.41 during midday trading on Thursday, reaching $164.66. The company had a trading volume of 4,480,059 shares, compared to its average volume of 5,637,517. 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 $291.56 billion, a price-to-earnings ratio of 60.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The company has a fifty day simple moving average of $175.79 and a two-hundred day simple moving average of $159.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share 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 business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the company posted $3.60 EPS. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.17 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.77%. AbbVie’s payout ratio is presently 227.11%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

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.