Advyzon Investment Management LLC Buys Shares of 4,023 AbbVie Inc. (NYSE:ABBV)

Advyzon Investment Management LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,023 shares of the company’s stock, valued at approximately $715,000.

Several other large investors have also bought and sold shares of ABBV. Handelsbanken Fonder AB raised its position in shares of AbbVie by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 1,191,207 shares of the company’s stock valued at $211,677,000 after acquiring an additional 45,266 shares during the last quarter. WealthBridge Capital Management LLC grew its stake in shares of AbbVie by 2.6% during the fourth quarter. WealthBridge Capital Management LLC now owns 12,573 shares of the company’s stock worth $2,234,000 after purchasing an additional 317 shares during the period. Wealth Alliance increased its holdings in AbbVie by 3.6% in the fourth quarter. Wealth Alliance now owns 22,672 shares of the company’s stock valued at $4,029,000 after purchasing an additional 779 shares during the last quarter. Sunpointe LLC lifted its stake in AbbVie by 29.9% in the fourth quarter. Sunpointe LLC now owns 4,401 shares of the company’s stock valued at $782,000 after buying an additional 1,013 shares during the period. Finally, LMG Wealth Partners LLC boosted its holdings in AbbVie by 3.9% during the fourth quarter. LMG Wealth Partners LLC now owns 21,741 shares of the company’s stock worth $3,863,000 after buying an additional 820 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.5 %

Shares of AbbVie stock opened at $197.30 on Thursday. The stock has a market cap of $348.66 billion, a P/E ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The business’s 50 day moving average is $179.67 and its 200-day moving average is $186.11.

AbbVie (NYSE:ABBV) last posted 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 quarter in the prior year, the business earned $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABBV. Piper Sandler increased their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.