Outlook Wealth Advisors LLC Has $256,000 Position in AbbVie Inc. (NYSE:ABBV)

Outlook Wealth Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,651 shares of the company’s stock after buying an additional 86 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in AbbVie were worth $256,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Altfest L J & Co. Inc. boosted its holdings in AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the last quarter. Torray Investment Partners LLC lifted its stake in AbbVie by 13.0% in the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after acquiring an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its stake in AbbVie by 21.3% in the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC lifted its stake in AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after acquiring an additional 400 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in AbbVie by 5.4% in the third quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock valued at $17,709,000 after acquiring an additional 6,139 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. BMO Capital Markets increased their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling

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

AbbVie Trading Down 2.2 %

NYSE ABBV traded down $3.66 during trading hours on Friday, hitting $162.28. 7,029,475 shares of the company’s stock were exchanged, compared to its average volume of 6,113,213. The stock has a 50-day simple moving average of $176.42 and a 200 day simple moving average of $159.70. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm has a market cap of $287.34 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 2.07 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:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.82%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

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.