Meadow Creek Wealth Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Meadow Creek Wealth Advisors LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 4,186 shares of the company’s stock, valued at approximately $649,000.

Other hedge funds have also recently made changes to their positions in the company. Retirement Income Solutions Inc bought a new stake in shares of AbbVie during the 1st quarter worth $204,000. Ergoteles LLC lifted its holdings in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after acquiring an additional 847 shares during the last quarter. First Western Trust Bank bought a new stake in shares of AbbVie during the 1st quarter worth $1,150,000. Wsfs Capital Management LLC bought a new stake in shares of AbbVie during the 1st quarter worth $562,000. Finally, Bridgewater Associates LP lifted its stake in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’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 sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Trading Up 0.9 %

Shares of NYSE ABBV traded up $1.62 during midday trading on Thursday, hitting $181.97. 5,418,371 shares of the company traded hands, compared to its average volume of 5,696,566. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a 50-day moving average price of $174.51 and a 200 day moving average price of $157.96. The firm has a market cap of $322.21 billion, a P/E ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Truist Financial boosted 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. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research note on Monday, December 11th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $177.43.

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.