Ellenbecker Investment Group Has $917,000 Position in AbbVie Inc. (NYSE:ABBV)

Ellenbecker Investment Group boosted its holdings in AbbVie Inc. (NYSE:ABBVGet Rating) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,678 shares of the company’s stock after buying an additional 718 shares during the period. Ellenbecker Investment Group’s holdings in AbbVie were worth $917,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. O Dell Group LLC lifted its holdings in AbbVie by 108.7% in the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in AbbVie by 85.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Align Wealth Management LLC bought a new stake in AbbVie in the fourth quarter valued at approximately $27,000. Activest Wealth Management bought a new stake in AbbVie in the third quarter valued at approximately $31,000. Finally, Clear Perspectives Financial Planning LLC bought a new stake in AbbVie in the third quarter valued at approximately $33,000. 67.71% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV opened at $154.22 on Friday. AbbVie Inc. has a 12 month low of $134.09 and a 12 month high of $175.91. The firm has a fifty day simple moving average of $151.13 and a 200 day simple moving average of $150.93. The stock has a market capitalization of $272.88 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.50 and a beta of 0.62. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 3.42.

AbbVie (NYSE:ABBVGet Rating) last announced its earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. The business had revenue of $15.12 billion during the quarter, compared to analysts’ expectations of $15.30 billion. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.31 earnings per share. Research analysts forecast that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, April 13th. AbbVie’s dividend payout ratio is currently 89.56%.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. Piper Sandler upped their target price on shares of AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Morgan Stanley lowered their target price on shares of AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, February 10th. Atlantic Securities lowered their price objective on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. Finally, SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $135.00 to $153.00 in a research report on Friday, February 10th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, AbbVie has an average rating of “Hold” and an average target price of $161.12.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the stock in a transaction on Friday, February 17th. The shares were sold at an average price of $149.53, for a total value of $3,738,250.00. Following the completion of the sale, the executive vice president now owns 233,208 shares in the company, valued at $34,871,592.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Elaine K. Sorg sold 15,003 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the completion of the sale, the senior vice president now owns 42,829 shares in the company, valued at approximately $6,638,495. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $149.53, for a total transaction of $3,738,250.00. Following the sale, the executive vice president now owns 233,208 shares of the company’s stock, valued at approximately $34,871,592.24. The disclosure for this sale can be found here. Insiders sold a total of 159,746 shares of company stock worth $24,267,450 over the last quarter. 0.08% of the stock is currently owned by insiders.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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