Paragon Private Wealth Management LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Paragon Private Wealth Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,341 shares of the company’s stock after purchasing an additional 1,231 shares during the period. AbbVie accounts for approximately 1.1% of Paragon Private Wealth Management LLC’s portfolio, making the stock its 24th largest position. Paragon Private Wealth Management LLC’s holdings in AbbVie were worth $2,371,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares in the last quarter. Carr Financial Group Corp raised its holdings in AbbVie by 1.1% in the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after purchasing an additional 56 shares in the last quarter. Finally, Wealthstream Advisors Inc. raised its holdings in AbbVie by 3.0% in the third quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock worth $386,000 after purchasing an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.8 %

AbbVie stock opened at $214.55 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $215.66. The stock’s 50 day simple moving average is $187.63 and its two-hundred day simple moving average is $187.47. The firm has a market cap of $378.75 billion, a PE ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Guggenheim boosted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.