Indivisible Partners Invests $2.19 Million in AbbVie Inc. $ABBV

Indivisible Partners acquired a new position in shares of AbbVie Inc. (NYSE:ABBVFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,570 shares of the company’s stock, valued at approximately $2,187,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Weil Company Inc. increased its holdings in shares of AbbVie by 2.3% during the 3rd quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock worth $469,000 after purchasing an additional 46 shares during the period. Hardin Capital Partners LLC increased its holdings in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after buying an additional 46 shares during the period. Inlet Private Wealth LLC increased its holdings in AbbVie by 0.3% in the 3rd quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company’s stock valued at $3,937,000 after buying an additional 47 shares during the period. D.B. Root & Company LLC increased its holdings in AbbVie by 4.3% in the 3rd quarter. D.B. Root & Company LLC now owns 1,152 shares of the company’s stock valued at $267,000 after buying an additional 47 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its holdings in AbbVie by 1.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,162 shares of the company’s stock valued at $722,000 after buying an additional 47 shares during the period. Institutional investors own 70.23% of the company’s stock.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. UBS Group lowered their price target on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. BMO Capital Markets reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Canaccord Genuity Group boosted their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. William Blair reissued an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $252.90.

View Our Latest Analysis on ABBV

AbbVie Stock Performance

ABBV opened at $206.12 on Wednesday. The firm’s 50-day simple moving average is $214.17 and its 200-day simple moving average is $221.34. AbbVie Inc. has a twelve month low of $176.57 and a twelve month high of $244.81. The firm has a market cap of $364.46 billion, a price-to-earnings ratio of 101.54, a PEG ratio of 0.72 and a beta of 0.32.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a yield of 3.4%. AbbVie’s dividend payout ratio is 340.89%.

Insider Activity

In related news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This represents a 66.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares in the company, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by corporate insiders.

AbbVie Company Profile

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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