Accel Wealth Management Buys 115 Shares of AbbVie Inc. (NYSE:ABBV)

Accel Wealth Management lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,632 shares of the company’s stock after purchasing an additional 115 shares during the period. Accel Wealth Management’s holdings in AbbVie were worth $718,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ABBV. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.9% during the 3rd 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 last quarter. BlackRock Inc. boosted its position in shares of AbbVie by 0.3% in the second quarter. BlackRock Inc. now owns 139,161,796 shares of the company’s stock valued at $18,749,269,000 after acquiring an additional 440,286 shares during the period. State Street Corp grew its stake in shares of AbbVie by 1.5% in the second quarter. State Street Corp now owns 78,182,567 shares of the company’s stock valued at $10,533,537,000 after acquiring an additional 1,156,130 shares in the last quarter. Morgan Stanley increased its position in 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 acquiring an additional 914,485 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its stake in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.6 %

NYSE:ABBV traded up $1.16 on Wednesday, hitting $180.35. The stock had a trading volume of 5,056,429 shares, compared to its average volume of 5,701,182. The company has a fifty day moving average price of $174.15 and a two-hundred day moving average price of $157.81. The stock has a market cap of $319.34 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 2.27 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $3.60 EPS. Equities research analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.44%. AbbVie’s payout ratio is currently 227.11%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 of the company’s stock, valued at approximately $42,375,512.24. 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 the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction 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 owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Barclays increased their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the company from $167.00 to $156.00 in a research note on Monday, December 18th. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Monday, December 11th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.43.

About AbbVie

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.