Beaumont Financial Advisors LLC Acquires 201 Shares of AbbVie Inc. (NYSE:ABBV)

Beaumont Financial Advisors LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 10,923 shares of the company’s stock after purchasing an additional 201 shares during the period. Beaumont Financial Advisors LLC’s holdings in AbbVie were worth $1,693,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. HTLF Bank bought a new position in shares of AbbVie during the fourth quarter valued at $5,376,000. Fonville Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth $300,000. Fidelis Capital Partners LLC raised its stake in AbbVie by 19.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 16,164 shares of the company’s stock worth $2,505,000 after buying an additional 2,607 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its stake in AbbVie by 1.2% during the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 10,460 shares of the company’s stock worth $1,621,000 after buying an additional 120 shares during the last quarter. Finally, Xponance Inc. raised its stake in AbbVie by 1.7% during the fourth quarter. Xponance Inc. now owns 412,600 shares of the company’s stock worth $63,941,000 after buying an additional 7,001 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James lifted their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. BMO Capital Markets lifted their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Stock Up 0.5 %

Shares of NYSE ABBV traded up $0.88 during mid-day trading on Friday, reaching $165.54. 2,786,762 shares of the company’s stock traded hands, compared to its average volume of 5,595,505. The stock has a market cap of $293.11 billion, a P/E ratio of 60.88, a PEG ratio of 2.11 and a beta of 0.58. The business has a 50-day simple moving average of $175.59 and a 200 day simple moving average of $159.97. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. 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 (NYSE:ABBV) last issued its quarterly earnings data 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. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $3.60 earnings per share. On average, analysts expect that AbbVie Inc. will post 11.18 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 given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company 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.