AbbVie Inc. (NYSE:ABBV) Shares Acquired by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 28.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,798 shares of the company’s stock after acquiring an additional 4,187 shares during the quarter. AbbVie makes up 1.1% of Mach 1 Financial Group LLC’s holdings, making the stock its 23rd largest holding. Mach 1 Financial Group LLC’s holdings in AbbVie were worth $2,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ABBV. Blue Bell Private Wealth Management LLC grew its holdings in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in shares of AbbVie during the third quarter valued at $45,000. Core Wealth Advisors Inc. grew its holdings in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $53,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock traded up $1.17 during trading hours on Tuesday, hitting $162.69. The stock had a trading volume of 5,479,940 shares, compared to its average volume of 5,662,850. The company has a 50-day moving average of $174.01 and a two-hundred day moving average of $161.10. 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 market cap of $288.07 billion, a PE ratio of 48.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. AbbVie’s payout ratio is presently 183.98%.

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.31.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was 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 directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value 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 $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

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.