AbbVie Inc. (NYSE:ABBV) Shares Acquired by Verus Financial Partners Inc.

Verus Financial Partners Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,670 shares of the company’s stock after buying an additional 373 shares during the quarter. Verus Financial Partners Inc.’s holdings in AbbVie were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Altfest L J & Co. Inc. lifted its stake in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after buying an additional 215 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after purchasing an additional 165 shares in the last quarter. Torray Investment Partners LLC grew its holdings in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after purchasing an additional 2,446 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its position in AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after buying an additional 4,633 shares during the last quarter. Finally, Amplius Wealth Advisors LLC increased its position in shares of AbbVie by 17.6% during 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. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their target price 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 target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Performance

Shares of AbbVie stock traded down $0.03 during trading on Thursday, reaching $160.42. The company’s stock had a trading volume of 913,421 shares, compared to its average volume of 5,609,591. The business’s fifty day moving average price is $172.48 and its 200-day moving average price is $161.62. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market cap of $283.28 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. 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 net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.86%. AbbVie’s payout ratio is currently 183.98%.

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.