Wealth Alliance Acquires 779 Shares of AbbVie Inc. (NYSE:ABBV)

Wealth Alliance boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 22,672 shares of the company’s stock after purchasing an additional 779 shares during the quarter. Wealth Alliance’s holdings in AbbVie were worth $4,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. State Street Corp increased its position in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. raised its holdings in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after purchasing an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. Finally, Saturna Capital Corp boosted its stake in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. Raymond James restated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Finally, Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $197.30 on Thursday. The company has a market capitalization of $348.66 billion, a P/E ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The business has a 50-day simple moving average of $179.67 and a two-hundred day simple moving average of $186.11. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the company posted $2.79 EPS. Research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.