Garrett Wealth Advisory Group LLC Buys 896 Shares of AbbVie Inc. (NYSE:ABBV)

Garrett Wealth Advisory Group LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 61.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the company’s stock after acquiring an additional 896 shares during the period. Garrett Wealth Advisory Group LLC’s holdings in AbbVie were worth $417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its position 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 purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the 4th quarter worth approximately $35,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABBV shares. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. 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’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 2.0 %

Shares of NYSE:ABBV opened at $209.07 on Monday. The firm has a market cap of $369.09 billion, a P/E ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $209.60. The business has a fifty day simple moving average of $184.42 and a 200 day simple moving average of $186.91. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the company earned $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 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.