Prentice Wealth Management LLC Purchases 190 Shares of AbbVie Inc. (NYSE:ABBV)

Prentice Wealth Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,267 shares of the company’s stock after purchasing an additional 190 shares during the quarter. Prentice Wealth Management LLC’s holdings in AbbVie were worth $1,114,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Groupama Asset Managment boosted its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie during the 4th quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

ABBV opened at $202.03 on Friday. The business has a fifty day moving average of $180.68 and a 200 day moving average of $186.29. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $356.64 billion, a P/E ratio of 84.18, a PEG ratio of 1.58 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 296.28%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The company 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

AbbVie Company Profile

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.