Smart Money Group LLC Has $997,000 Stake in AbbVie Inc. (NYSE:ABBV)

Smart Money Group LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,433 shares of the company’s stock after buying an additional 267 shares during the period. Smart Money Group LLC’s holdings in AbbVie were worth $997,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aspen Wealth Strategies LLC increased its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the period. Marks Group Wealth Management Inc boosted its position in shares of AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the period. Avion Wealth boosted its position in AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the last quarter. White Pine Capital LLC boosted its position in AbbVie by 1.2% during the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the last quarter. Finally, First Bank & Trust raised its holdings in AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after buying an additional 68 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.6 %

Shares of AbbVie stock traded down $0.91 on Thursday, reaching $160.81. The stock had a trading volume of 5,749,218 shares, compared to its average volume of 5,658,353. The company has a 50 day moving average price of $173.74 and a 200 day moving average price of $161.10. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The stock has a market capitalization of $284.74 billion, a P/E ratio of 47.33, a P/E/G ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 11.3 EPS for the current year.

AbbVie Dividend Announcement

The firm 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

Several equities analysts have commented on ABBV shares. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays dropped their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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 owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were 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 in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. 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 90 days. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.