Paces Ferry Wealth Advisors LLC Has $383,000 Position in AbbVie Inc. (NYSE:ABBV)

Paces Ferry Wealth Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,472 shares of the company’s stock after purchasing an additional 293 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in AbbVie were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Blue Bell Private Wealth Management LLC increased its holdings in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at approximately $45,000. Bourgeon Capital Management LLC increased its stake in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the period. Naples Money Management LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $53,000. Finally, Core Wealth Advisors Inc. boosted its stake in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.17 during trading hours on Tuesday, hitting $162.69. 5,479,940 shares of the company’s stock were exchanged, compared to its average volume of 5,662,850. The company’s 50-day moving average price is $174.01 and its 200-day moving average price is $161.10. 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 $288.07 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 2.03 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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the business posted $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insiders Place Their Bets

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the company’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 completion of the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the firm’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 transaction of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

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.