Fidelis Capital Partners LLC Purchases 2,607 Shares of AbbVie Inc. (NYSE:ABBV)

Fidelis Capital Partners LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,164 shares of the company’s stock after acquiring an additional 2,607 shares during the period. Fidelis Capital Partners LLC’s holdings in AbbVie were worth $2,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie during the third quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of AbbVie during the second quarter valued at approximately $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. purchased a new stake in AbbVie in the third quarter worth $45,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

NYSE:ABBV traded up $0.41 during mid-day trading on Thursday, reaching $164.66. 4,479,202 shares of the company’s stock traded hands, compared to its average volume of 5,637,517. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a 50 day moving average price of $175.79 and a 200-day moving average price of $159.94.

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 analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 11.17 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.77%. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ABBV shares. BMO Capital Markets raised their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays raised their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.