Blue Barn Wealth LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Blue Barn Wealth LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,273 shares of the company’s stock after purchasing an additional 103 shares during the quarter. Blue Barn Wealth LLC’s holdings in AbbVie were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Groupama Asset Managment raised its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock worth $11,377,057 over the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Leerink Partners raised shares of 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. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Performance

Shares of AbbVie stock opened at $211.61 on Thursday. The firm has a market cap of $373.57 billion, a PE ratio of 88.17, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The firm’s 50-day simple moving average is $186.27 and its 200-day simple moving average is $187.31. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 prior year, the company earned $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.