Obermeyer Wood Investment Counsel Lllp Acquires 120 Shares of AbbVie Inc. (NYSE:ABBV)

Obermeyer Wood Investment Counsel Lllp grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,460 shares of the company’s stock after acquiring an additional 120 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in AbbVie were worth $1,621,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Retirement Income Solutions Inc acquired a new position in shares of AbbVie during the first quarter worth about $204,000. Ergoteles LLC boosted its position in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the period. First Western Trust Bank acquired a new position in shares of AbbVie during the first quarter worth about $1,150,000. Wsfs Capital Management LLC acquired a new position in shares of AbbVie during the first quarter worth about $562,000. Finally, Bridgewater Associates LP boosted its position in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after buying an additional 33,661 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.2 %

Shares of NYSE:ABBV traded up $0.41 during midday trading on Thursday, hitting $164.66. 4,480,059 shares of the stock were exchanged, compared to its average volume of 5,637,517. The stock has a market capitalization of $291.56 billion, a price-to-earnings ratio of 60.89, a P/E/G ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The business’s 50-day moving average price is $175.79 and its 200 day moving average price is $159.94. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.60 earnings per share. Analysts predict that AbbVie Inc. will post 11.17 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is presently 227.11%.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays raised their target price 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 raised their target price 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. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three 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, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie 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.