Aire Advisors LLC Acquires 463 Shares of AbbVie Inc. (NYSE:ABBV)

Aire Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the company’s stock after acquiring an additional 463 shares during the quarter. Aire Advisors LLC’s holdings in AbbVie were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Retirement Income Solutions Inc bought a new position in AbbVie in the 1st quarter worth about $204,000. Ergoteles LLC increased its position in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in shares of AbbVie during the 1st quarter valued at about $1,150,000. Wsfs Capital Management LLC bought a new position in shares of AbbVie during the 1st quarter valued at about $562,000. Finally, Bridgewater Associates LP increased its position in shares of AbbVie by 80.4% during the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $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.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. HSBC lowered AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the company from $167.00 to $156.00 in a research report on Monday, December 18th. Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 2.2 %

ABBV stock traded down $3.66 on Friday, reaching $162.28. 7,029,475 shares of the company traded hands, compared to its average volume of 6,113,213. AbbVie Inc. has a one year low of $130.96 and a one year 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. The company has a market cap of $287.34 billion, a P/E ratio of 59.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The firm has a fifty day simple moving average of $176.42 and a 200-day simple moving average of $159.66.

AbbVie (NYSE:ABBV) last posted 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 company 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 earned $3.60 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 11.11 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 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.