Mission Wealth Management LP Buys 2,208 Shares of AbbVie Inc. (NYSE:ABBV)

Mission Wealth Management LP raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,487 shares of the company’s stock after acquiring an additional 2,208 shares during the period. Mission Wealth Management LP’s holdings in AbbVie were worth $5,809,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Pekin Hardy Strauss Inc. raised its stake in shares of AbbVie by 1.0% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 35,530 shares of the company’s stock worth $5,506,000 after purchasing an additional 354 shares during the period. Stegent Equity Advisors Inc. bought a new stake in AbbVie in the 4th quarter valued at about $248,000. Certuity LLC raised its stake in AbbVie by 81.1% in the 4th quarter. Certuity LLC now owns 8,928 shares of the company’s stock valued at $1,384,000 after acquiring an additional 3,999 shares during the period. Penobscot Investment Management Company Inc. raised its stake in AbbVie by 1.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 74,718 shares of the company’s stock valued at $11,579,000 after acquiring an additional 775 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in AbbVie by 0.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 19,611 shares of the company’s stock valued at $3,039,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction 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 sale, 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 the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction 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 sale, 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 a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Trading Up 0.7 %

Shares of AbbVie stock traded up $1.12 during midday trading on Tuesday, reaching $162.64. 5,479,417 shares of the company’s stock traded hands, compared to its average volume of 5,662,850. 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 company has a market cap of $287.98 billion, a PE ratio of 48.08, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. The stock has a 50 day moving average of $174.27 and a 200-day moving average of $161.00. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.81%. AbbVie’s payout ratio is 183.98%.

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.