DORCHESTER WEALTH MANAGEMENT Co Acquires 373 Shares of AbbVie Inc. (NYSE:ABBV)

DORCHESTER WEALTH MANAGEMENT Co increased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,305 shares of the company’s stock after buying an additional 373 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in AbbVie were worth $1,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bridges Investment Management Inc. boosted its holdings in AbbVie by 2.8% in the 4th quarter. Bridges Investment Management Inc. now owns 82,435 shares of the company’s stock worth $12,775,000 after buying an additional 2,279 shares during the period. Venturi Wealth Management LLC boosted its holdings in AbbVie by 5.3% in the 4th quarter. Venturi Wealth Management LLC now owns 73,951 shares of the company’s stock valued at $11,460,000 after purchasing an additional 3,702 shares during the period. Integrated Investment Consultants LLC boosted its holdings in AbbVie by 1.5% in the 4th quarter. Integrated Investment Consultants LLC now owns 7,164 shares of the company’s stock valued at $1,110,000 after purchasing an additional 109 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in AbbVie by 0.3% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 88,559 shares of the company’s stock valued at $13,724,000 after purchasing an additional 245 shares during the period. Finally, Webster Bank N. A. boosted its holdings in AbbVie by 0.6% in the 4th quarter. Webster Bank N. A. now owns 67,581 shares of the company’s stock valued at $10,473,000 after purchasing an additional 386 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABBV. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets lifted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Finally, Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $177.43.

Check Out Our Latest Stock Analysis on ABBV

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Trading Down 0.9 %

Shares of ABBV stock traded down $1.71 during mid-day trading on Wednesday, reaching $178.98. The stock had a trading volume of 1,163,657 shares, compared to its average volume of 5,571,372. The stock’s 50-day moving average price is $175.80 and its two-hundred day moving average price is $158.87. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The firm has a market capitalization of $316.91 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

AbbVie Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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