AbbVie Inc. (NYSE:ABBV) Shares Acquired by Bogart Wealth LLC

Bogart Wealth LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 13.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,215 shares of the company’s stock after acquiring an additional 495 shares during the quarter. Bogart Wealth LLC’s holdings in AbbVie were worth $749,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. AMF Tjanstepension AB purchased a new position in shares of AbbVie during the third quarter valued at $8,777,000. Creative Planning grew its holdings in shares of AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after buying an additional 40,925 shares in the last quarter. Swedbank AB grew its holdings in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares in the last quarter. HFG Advisors Inc. purchased a new position in shares of AbbVie during the third quarter valued at $205,000. Finally, nVerses Capital LLC boosted its position in AbbVie by 29.4% during the third quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $434,000 after purchasing an additional 500 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,983 shares in the company, 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 SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Daiwa Capital Markets cut 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. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Down 0.2 %

AbbVie stock opened at $193.00 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 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. The firm has a market capitalization of $341.05 billion, a PE ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. The business’s 50-day simple moving average is $178.59 and its 200-day simple moving average is $185.96.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the business earned $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.40%. AbbVie’s dividend payout ratio is 273.33%.

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.