AbbVie Inc. (NYSE:ABBV) Shares Bought by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,060 shares of the company’s stock after purchasing an additional 758 shares during the period. Octavia Wealth Advisors LLC’s holdings in AbbVie were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Morgan Stanley boosted its stake in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares during the period. Northern Trust Corp increased its stake in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after acquiring an additional 491,391 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AbbVie by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after acquiring an additional 352,817 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.5 %

Shares of AbbVie stock opened at $162.54 on Wednesday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The business has a 50-day moving average of $176.01 and a 200-day moving average of $159.91. The company has a market capitalization of $287.80 billion, a PE ratio of 59.54, a P/E/G ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the company posted $3.60 EPS. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 11.12 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BMO Capital Markets upped their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, 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. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

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.