AbbVie Inc. (NYSE:ABBV) is Pacific Wealth Management’s 7th Largest Position

Pacific Wealth Management grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,671 shares of the company’s stock after buying an additional 99 shares during the quarter. AbbVie accounts for approximately 3.5% of Pacific Wealth Management’s holdings, making the stock its 7th biggest holding. Pacific Wealth Management’s holdings in AbbVie were worth $6,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABBV. Aspen Wealth Strategies LLC raised its position in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares in the last quarter. Avion Wealth lifted its holdings in AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares during the period. Goepper Burkhardt LLC lifted its holdings in AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after buying an additional 67 shares during the period. First Bank & Trust boosted its position in AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares in the last quarter. Finally, Hudock Inc. boosted its holdings in shares of AbbVie by 2.5% in the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after buying an additional 68 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Barclays boosted 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 investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Up 0.9 %

Shares of ABBV stock traded up $1.54 during trading hours on Thursday, reaching $165.79. 1,759,872 shares of the stock were exchanged, compared to its average volume of 5,600,526. 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 12-month low of $130.96 and a 12-month high of $182.89. The firm has a market capitalization of $293.56 billion, a P/E ratio of 60.89, a P/E/G ratio of 2.09 and a beta of 0.58. The business’s fifty day moving average is $175.79 and its two-hundred day moving average is $159.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $3.60 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 11.17 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.74%. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. Company insiders own 0.25% of the company’s stock.

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.