8,424 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Wynn Capital LLC

Wynn Capital LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,424 shares of the company’s stock, valued at approximately $1,305,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC increased its holdings 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 purchasing an additional 81 shares during the period. Horrell Capital Management Inc. bought a new position in AbbVie during the third quarter valued at about $45,000. Core Wealth Advisors Inc. boosted its stake in AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Bourgeon Capital Management LLC boosted its stake in AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new position in AbbVie during the fourth quarter valued at about $53,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV traded down $1.71 during trading on Wednesday, hitting $167.83. The company’s stock had a trading volume of 4,074,754 shares, compared to its average volume of 5,594,750. 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 $175.26 and a 200 day moving average price of $160.57. The firm has a market cap of $297.17 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.60 EPS. Equities research analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is presently 227.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 9,891 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $177.39, for a total value of $1,754,564.49. Following the completion of the transaction, the executive vice president now owns 10,397 shares of the company’s stock, valued at approximately $1,844,323.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by corporate insiders.

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.