Great Valley Advisor Group Inc. Has $9.85 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Great Valley Advisor Group Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 63,538 shares of the company’s stock after purchasing an additional 1,936 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in AbbVie were worth $9,847,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Riverpoint Wealth Management Holdings LLC increased its holdings in shares of AbbVie by 1.1% during the fourth quarter. Riverpoint Wealth Management Holdings LLC now owns 7,968 shares of the company’s stock worth $1,235,000 after buying an additional 84 shares in the last quarter. Searle & CO. increased its holdings in AbbVie by 5.2% in the fourth quarter. Searle & CO. now owns 46,747 shares of the company’s stock valued at $7,244,000 after purchasing an additional 2,300 shares during the period. Concord Wealth Partners increased its holdings in AbbVie by 42.6% in the fourth quarter. Concord Wealth Partners now owns 19,637 shares of the company’s stock valued at $3,043,000 after purchasing an additional 5,869 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie in the fourth quarter valued at $44,000. Finally, ICW Investment Advisors LLC increased its holdings in AbbVie by 1.1% in the fourth quarter. ICW Investment Advisors LLC now owns 24,978 shares of the company’s stock valued at $3,871,000 after purchasing an additional 278 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.6 %

Shares of ABBV traded down $0.92 during trading hours on Wednesday, hitting $161.72. The stock had a trading volume of 5,176,347 shares, compared to its average volume of 5,657,122. 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 firm has a 50 day simple moving average of $174.01 and a 200-day simple moving average of $161.10. The firm has a market capitalization of $286.35 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 2.04 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 issued its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABBV shares. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. Raymond James increased 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. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.