Waterfront Wealth Inc. Acquires 204 Shares of AbbVie Inc. (NYSE:ABBV)

Waterfront Wealth Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,333 shares of the company’s stock after purchasing an additional 204 shares during the period. Waterfront Wealth Inc.’s holdings in AbbVie were worth $1,136,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspen Wealth Strategies LLC increased its stake in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the period. Avion Wealth increased its stake 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 acquiring an additional 65 shares during the period. Goepper Burkhardt LLC increased its stake in AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after acquiring an additional 67 shares during the period. First Bank & Trust increased its stake 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 acquiring an additional 68 shares during the period. Finally, Hudock Inc. increased its stake in AbbVie by 2.5% during the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after acquiring an additional 68 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Perry C. Siatis sold 13,753 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.51, for a total value of $2,441,295.03. Following the completion of the transaction, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The sale was disclosed in a document filed 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 on 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 transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.0 %

ABBV stock traded up $1.70 during trading on Wednesday, hitting $164.24. The company had a trading volume of 4,792,165 shares, compared to its average volume of 5,653,147. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a 50-day moving average price of $175.79 and a 200-day moving average price of $159.94. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a market cap of $290.81 billion, a price-to-earnings ratio of 60.16, a PEG ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating 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 net margin of 8.95% and a return on equity of 162.28%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, analysts predict that AbbVie Inc. will post 11.12 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 given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $177.43.

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.