PUREfi Wealth LLC Takes $525,000 Position in AbbVie Inc. (NYSE:ABBV)

PUREfi Wealth LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,956 shares of the company’s stock, valued at approximately $525,000.

Several other large investors also recently made changes to their positions in the company. Adell Harriman & Carpenter Inc. grew its stake in shares of AbbVie by 1.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 174,462 shares of the company’s stock valued at $31,002,000 after buying an additional 2,721 shares during the period. Valeo Financial Advisors LLC boosted its stake in AbbVie by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 81,745 shares of the company’s stock valued at $14,526,000 after purchasing an additional 1,255 shares during the last quarter. Blue Trust Inc. boosted its stake in AbbVie by 22.8% during the 4th quarter. Blue Trust Inc. now owns 48,171 shares of the company’s stock valued at $8,560,000 after purchasing an additional 8,959 shares during the last quarter. Kanawha Capital Management LLC boosted its stake in AbbVie by 1.2% during the 4th quarter. Kanawha Capital Management LLC now owns 144,105 shares of the company’s stock valued at $25,608,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Campbell Wealth Management boosted its stake in AbbVie by 97.6% during the 4th quarter. Campbell Wealth Management now owns 3,583 shares of the company’s stock valued at $637,000 after purchasing an additional 1,770 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Raymond James restated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Down 0.2 %

Shares of ABBV stock opened at $193.00 on Friday. The company’s fifty day simple moving average is $178.59 and its two-hundred day simple moving average is $185.96. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58.

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

AbbVie Announces Dividend

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