Ascent Wealth Partners LLC Purchases 581 Shares of AbbVie Inc. (NYSE:ABBV)

Ascent Wealth Partners LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 59,842 shares of the company’s stock after buying an additional 581 shares during the period. AbbVie comprises about 1.4% of Ascent Wealth Partners LLC’s portfolio, making the stock its 19th biggest holding. Ascent Wealth Partners LLC’s holdings in AbbVie were worth $10,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. MONECO Advisors LLC lifted its position in shares of AbbVie by 9.4% during the 4th quarter. MONECO Advisors LLC now owns 15,856 shares of the company’s stock valued at $2,818,000 after acquiring an additional 1,362 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of AbbVie by 2.9% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 6,745 shares of the company’s stock worth $1,199,000 after buying an additional 190 shares in the last quarter. Forvis Mazars Wealth Advisors LLC raised its holdings in shares of AbbVie by 1.4% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,267 shares of the company’s stock worth $3,068,000 after buying an additional 230 shares in the last quarter. Howard Capital Management Inc. raised its holdings in shares of AbbVie by 12.2% during the 4th quarter. Howard Capital Management Inc. now owns 21,318 shares of the company’s stock worth $3,788,000 after buying an additional 2,324 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its holdings in shares of AbbVie by 838.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,221 shares of the company’s stock worth $750,000 after buying an additional 3,771 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $202.03 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $356.64 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The stock has a 50 day moving average of $181.25 and a 200 day moving average of $186.42. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the company earned $2.79 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie 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.