Beaumont Financial Advisors LLC Grows Stake in AbbVie Inc. (NYSE:ABBV)

Beaumont Financial Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,923 shares of the company’s stock after acquiring an additional 201 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in AbbVie were worth $1,693,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. HTLF Bank acquired a new stake in shares of AbbVie in the 4th quarter valued at about $5,376,000. Fonville Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at about $300,000. Fidelis Capital Partners LLC boosted its position in shares of AbbVie by 19.2% in the 4th quarter. Fidelis Capital Partners LLC now owns 16,164 shares of the company’s stock valued at $2,505,000 after purchasing an additional 2,607 shares during the period. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of AbbVie by 1.2% in the 4th quarter. Obermeyer Wood Investment Counsel Lllp now owns 10,460 shares of the company’s stock valued at $1,621,000 after purchasing an additional 120 shares during the period. Finally, Xponance Inc. boosted its position in shares of AbbVie by 1.7% in the 4th quarter. Xponance Inc. now owns 412,600 shares of the company’s stock valued at $63,941,000 after purchasing an additional 7,001 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV traded up $0.88 during mid-day trading on Friday, hitting $165.54. The stock had a trading volume of 2,786,762 shares, compared to its average volume of 5,595,505. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a market cap of $293.11 billion, a price-to-earnings ratio of 60.88, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a 50 day simple moving average of $175.59 and a 200 day simple moving average of $159.97. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating 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 firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business posted $3.60 EPS. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.18 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ABBV shares. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

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.