Barlow Wealth Partners Inc. Makes New $655,000 Investment in AbbVie Inc. (NYSE:ABBV)

Barlow Wealth Partners Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,229 shares of the company’s stock, valued at approximately $655,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Altfest L J & Co. Inc. boosted its holdings in AbbVie by 0.9% during the 3rd quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after acquiring an additional 215 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after buying an additional 165 shares during the period. Torray Investment Partners LLC grew its position in shares of AbbVie by 13.0% in the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after buying an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. increased its position in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its stake in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ABBV. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Raymond James upped their target price 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 raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial upped their price target 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

Shares of ABBV stock traded down $2.15 during mid-day trading on Wednesday, hitting $160.40. The company had a trading volume of 5,906,428 shares, compared to its average volume of 5,662,472. The company has a market capitalization of $283.25 billion, a P/E ratio of 47.61, a P/E/G ratio of 2.07 and a beta of 0.61. The stock’s 50 day moving average price is $172.48 and its 200-day moving average price is $161.62. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The company 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 of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.87%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. 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. Company insiders own 0.25% of the company’s stock.

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.