Cwm LLC Buys 33,096 Shares of AbbVie Inc. (NYSE:ABBV)

Cwm LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 21.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,441 shares of the company’s stock after acquiring an additional 33,096 shares during the period. Cwm LLC’s holdings in AbbVie were worth $29,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Retirement Income Solutions Inc bought a new stake in shares of AbbVie during the first quarter valued at about $204,000. Ergoteles LLC increased its position in shares of AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in shares of AbbVie in the first quarter worth approximately $1,150,000. Wsfs Capital Management LLC bought a new position in shares of AbbVie in the first quarter worth approximately $562,000. Finally, Bridgewater Associates LP increased its position in shares of AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 1.1 %

Shares of NYSE:ABBV traded up $1.75 during trading on Friday, reaching $166.41. 5,532,492 shares of the company traded hands, compared to its average volume of 4,932,933. The firm has a market capitalization of $294.65 billion, a price-to-earnings ratio of 60.96, a P/E/G ratio of 2.14 and a beta of 0.58. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business’s fifty day moving average is $175.44 and its 200-day moving average is $160.19.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ABBV shares. Truist Financial upped their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling

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 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 $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie 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 transaction, the executive vice president now 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, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were 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 disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. 0.25% of the stock is owned by company insiders.

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.