AbbVie Inc. (NYSE:ABBV) Shares Acquired by Access Financial Services Inc.

Access Financial Services Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,304 shares of the company’s stock after purchasing an additional 471 shares during the period. AbbVie makes up 0.9% of Access Financial Services Inc.’s holdings, making the stock its 21st largest position. Access Financial Services Inc.’s holdings in AbbVie were worth $1,752,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. VitalStone Financial LLC grew its holdings in AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after acquiring an additional 166 shares during the period. Hibernia Wealth Partners LLC acquired a new stake in AbbVie during the third quarter worth about $36,000. PCA Investment Advisory Services Inc. acquired a new stake in AbbVie during the second quarter worth about $38,000. True Wealth Design LLC acquired a new stake in AbbVie during the fourth quarter worth about $39,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and decreased their target price for the company from $167.00 to $156.00 in a research report on Monday, December 18th. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. Finally, Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Four research 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. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Trading Up 0.9 %

ABBV stock traded up $1.62 during midday trading on Thursday, hitting $181.97. 5,418,371 shares of the company’s stock were exchanged, compared to its average volume of 5,696,566. The business has a 50-day simple moving average of $174.51 and a two-hundred day simple moving average of $157.96. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $322.21 billion, a PE ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.60 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie’s payout ratio is presently 227.11%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. 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.