Align Wealth Management LLC Buys Shares of 201 AbbVie Inc. (NYSE:ABBV)

Align Wealth Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 201 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently made changes to their positions in ABBV. Vanguard Group Inc. increased its stake in AbbVie by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after purchasing an additional 2,442,663 shares in the last quarter. State Street Corp increased its position in shares of AbbVie by 0.5% in the 3rd quarter. State Street Corp now owns 77,486,317 shares of the company’s stock valued at $10,399,439,000 after acquiring an additional 366,695 shares during the period. Legal & General Group Plc raised its stake in AbbVie by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 12,530,360 shares of the company’s stock worth $1,919,162,000 after acquiring an additional 476,257 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in AbbVie by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,011,386 shares of the company’s stock worth $1,686,504,000 after acquiring an additional 938,091 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in AbbVie by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock valued at $1,443,588,000 after purchasing an additional 176,026 shares during the last quarter. Institutional investors and hedge funds own 67.71% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott T. Reents sold 15,942 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the completion of the sale, the chief financial officer now directly owns 809 shares of the company’s stock, valued at approximately $123,841.72. The disclosure for this sale can be found here. Insiders sold 159,746 shares of company stock valued at $24,267,450 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

AbbVie stock opened at $154.22 on Friday. AbbVie Inc. has a 52-week low of $134.09 and a 52-week high of $175.91. The firm has a market capitalization of $272.88 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.50 and a beta of 0.62. The company has a fifty day simple moving average of $151.13 and a 200-day simple moving average of $150.82. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 3.42.

AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The business had revenue of $15.12 billion during the quarter, compared to analyst estimates of $15.30 billion. During the same quarter in the prior year, the firm earned $3.31 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, April 13th. AbbVie’s payout ratio is 89.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. SVB Securities upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $135.00 to $153.00 in a research report on Friday, February 10th. Truist Financial lifted their target price on shares of AbbVie from $160.00 to $180.00 in a report on Thursday, January 5th. SVB Leerink upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Finally, Morgan Stanley decreased their target price on shares of AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, February 10th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Hold” and a consensus price target of $161.12.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.