AbbVie Inc. (NYSE:ABBV) Shares Bought by Atria Investments Inc

Atria Investments Inc grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 174,857 shares of the company’s stock after purchasing an additional 4,237 shares during the period. Atria Investments Inc’s holdings in AbbVie were worth $31,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. raised its position in AbbVie by 11.4% in the fourth quarter. Assetmark Inc. now owns 167,652 shares of the company’s stock worth $29,792,000 after acquiring an additional 17,143 shares in the last quarter. NewSquare Capital LLC raised its stake in AbbVie by 53,000.0% during the 4th quarter. NewSquare Capital LLC now owns 531 shares of the company’s stock valued at $94,000 after purchasing an additional 530 shares during the period. J.Safra Asset Management Corp lifted its stake in AbbVie by 105.8% in the 4th quarter. J.Safra Asset Management Corp now owns 2,908 shares of the company’s stock worth $512,000 after acquiring an additional 1,495 shares in the last quarter. WoodTrust Financial Corp lifted its position in shares of AbbVie by 30.4% in the fourth quarter. WoodTrust Financial Corp now owns 4,929 shares of the company’s stock worth $876,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Snider Financial Group purchased a new stake in AbbVie in the 4th quarter worth approximately $222,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABBV. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.95.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of ABBV opened at $208.12 on Wednesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The business has a 50-day moving average of $185.64 and a 200-day moving average of $187.14. The company has a market capitalization of $367.40 billion, a price-to-earnings ratio of 86.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

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.