TCI Wealth Advisors Inc. Increases Position in AbbVie Inc. (NYSE:ABBV)

TCI Wealth Advisors Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 17,043 shares of the company’s stock after purchasing an additional 165 shares during the period. TCI Wealth Advisors Inc.’s holdings in AbbVie were worth $2,641,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new position in AbbVie in the 4th quarter worth $44,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Horrell Capital Management Inc. bought a new position in AbbVie during the 3rd quarter worth approximately $45,000. Bourgeon Capital Management LLC increased its stake in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the period. Finally, Naples Money Management LLC bought a new stake in AbbVie in the fourth quarter valued at approximately $53,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABBV shares. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays dropped their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Trading Up 1.9 %

NYSE ABBV traded up $2.98 during trading on Friday, hitting $163.79. The company had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a market cap of $290.01 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company’s fifty day moving average is $173.13 and its 200-day moving average is $161.39.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.79%. AbbVie’s payout ratio is 183.98%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by corporate insiders.

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.