Scissortail Wealth Management LLC Purchases 24,541 Shares of AbbVie Inc. (NYSE:ABBV)

Scissortail Wealth Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1,764.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,932 shares of the company’s stock after purchasing an additional 24,541 shares during the period. AbbVie accounts for approximately 1.4% of Scissortail Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Scissortail Wealth Management LLC’s holdings in AbbVie were worth $4,251,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Altfest L J & Co. Inc. increased its stake in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the period. Torray Investment Partners LLC increased its stake in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after acquiring an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. increased its stake 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 worth $3,936,000 after acquiring an additional 4,633 shares during the period. Amplius Wealth Advisors LLC increased its stake in AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after acquiring an additional 400 shares during the period. Finally, Synovus Financial Corp increased its stake in AbbVie by 5.4% during the 3rd quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after acquiring an additional 6,139 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ABBV. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Three research 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 stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.87 during mid-day trading on Tuesday, hitting $162.54. 4,881,176 shares of the stock traded hands, compared to its average volume of 5,663,454. 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 Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap of $287.80 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. The firm has a 50 day simple moving average of $176.23 and a two-hundred day simple moving average of $159.81.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the business posted $3.60 EPS. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 11.11 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. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is presently 227.11%.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 directly 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 three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by company insiders.

AbbVie Company 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.