Larson Financial Group LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Larson Financial Group LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 12.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,835 shares of the company’s stock after acquiring an additional 305 shares during the quarter. Larson Financial Group LLC’s holdings in AbbVie were worth $439,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC boosted its stake 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 purchasing an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie in the third quarter valued at approximately $45,000. Bourgeon Capital Management LLC boosted its holdings in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the period. Naples Money Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $53,000. Finally, Core Wealth Advisors Inc. increased its holdings in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’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 sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABBV shares. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays upped their price target 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. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Trading Up 1.0 %

AbbVie stock opened at $169.54 on Wednesday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $300.20 billion, a PE ratio of 62.10, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The stock has a 50-day moving average of $175.26 and a two-hundred day moving average of $160.57. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $3.60 EPS. On average, research analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.