Certuity LLC Has $1.38 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Certuity LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 81.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,928 shares of the company’s stock after buying an additional 3,999 shares during the quarter. Certuity LLC’s holdings in AbbVie were worth $1,384,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Altfest L J & Co. Inc. increased its holdings in AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after buying an additional 215 shares during the last quarter. Torray Investment Partners LLC lifted its position in AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. lifted its holdings in shares of AbbVie by 21.3% in the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC lifted its holdings in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after acquiring an additional 400 shares during the last quarter. Finally, Opinicus Capital Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $1,296,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.65 during mid-day trading on Tuesday, reaching $162.17. 2,611,211 shares of the stock traded hands, compared to its average volume of 5,627,490. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $287.15 billion, a PE ratio of 48.08, a PEG ratio of 2.03 and a beta of 0.58. The business has a 50-day moving average of $174.27 and a 200 day moving average of $161.00.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.31.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing 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 on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. 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.