AbbVie Inc. (NYSE:ABBV) Shares Purchased by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,046 shares of the company’s stock after purchasing an additional 390 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in AbbVie were worth $1,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the period. State Street Corp grew its position in AbbVie by 1.5% in the second quarter. State Street Corp now owns 78,182,567 shares of the company’s stock worth $10,533,537,000 after acquiring an additional 1,156,130 shares during the period. Morgan Stanley boosted its position in shares of AbbVie by 2.9% during the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of AbbVie by 89,097.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after buying an additional 29,170,366 shares during the period. Finally, Northern Trust Corp boosted its position in shares of AbbVie by 2.3% during the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after buying an additional 491,391 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. HSBC cut AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Finally, Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Four investment 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. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Performance

Shares of ABBV traded up $1.62 during midday trading on Thursday, reaching $181.97. 5,418,371 shares of the stock were exchanged, compared to its average volume of 5,696,566. The business’s 50-day moving average price is $174.51 and its 200 day moving average price is $157.96. 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 Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market capitalization of $322.21 billion, a price-to-earnings ratio of 66.66, a PEG ratio of 2.28 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 11.15 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. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie 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 sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last quarter. 0.25% of the stock is currently owned by 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.