Pinnacle Wealth Management Advisory Group LLC Buys 3,947 Shares of AbbVie Inc. (NYSE:ABBV)

Pinnacle Wealth Management Advisory Group LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 34.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,247 shares of the company’s stock after acquiring an additional 3,947 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in AbbVie were worth $2,709,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Groupama Asset Managment grew its holdings in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $193.00 on Friday. The firm’s fifty day moving average price is $178.93 and its two-hundred day moving average price is $186.04. The stock has a market cap of $341.05 billion, a PE ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.32 EPS 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 paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. AbbVie’s dividend payout ratio is 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABBV. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Wells Fargo & Company raised their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of 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. UBS Group raised their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.