LMG Wealth Partners LLC Acquires 820 Shares of AbbVie Inc. (NYSE:ABBV)

LMG Wealth Partners LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,741 shares of the company’s stock after purchasing an additional 820 shares during the quarter. LMG Wealth Partners LLC’s holdings in AbbVie were worth $3,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $35,000. Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie during the 3rd quarter worth about $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABBV. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Guggenheim upped their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Up 0.5 %

NYSE ABBV opened at $197.30 on Thursday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business’s fifty day moving average is $179.67 and its 200 day moving average is $186.11. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $348.66 billion, a price-to-earnings ratio of 82.21, a price-to-earnings-growth 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 period in the prior year, the firm earned $2.79 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

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.