Prosperitas Financial LLC Buys 1,229 Shares of AbbVie Inc. (NYSE:ABBV)

Prosperitas Financial LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,795 shares of the company’s stock after purchasing an additional 1,229 shares during the period. AbbVie accounts for approximately 1.3% of Prosperitas Financial LLC’s investment portfolio, making the stock its 29th biggest position. Prosperitas Financial LLC’s holdings in AbbVie were worth $2,629,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CORDA Investment Management LLC. grew its holdings in AbbVie by 0.8% during the 4th quarter. CORDA Investment Management LLC. now owns 7,517 shares of the company’s stock worth $1,336,000 after acquiring an additional 63 shares during the period. QRG Capital Management Inc. grew its holdings in AbbVie by 0.7% during the 4th quarter. QRG Capital Management Inc. now owns 292,607 shares of the company’s stock worth $51,996,000 after acquiring an additional 1,912 shares during the period. Brueske Advisory Services LLC acquired a new stake in AbbVie during the 4th quarter worth about $285,000. Motiv8 Investments LLC grew its holdings in AbbVie by 25.4% during the 4th quarter. Motiv8 Investments LLC now owns 6,894 shares of the company’s stock worth $1,225,000 after acquiring an additional 1,395 shares during the period. Finally, First Command Advisory Services Inc. grew its holdings in AbbVie by 23.2% during the 4th quarter. First Command Advisory Services Inc. now owns 6,807 shares of the company’s stock worth $1,210,000 after acquiring an additional 1,282 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ABBV shares. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Up 1.0 %

NYSE:ABBV opened at $205.06 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $362.00 billion, a PE ratio of 85.44, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The firm’s 50 day moving average is $183.75 and its 200 day moving average is $186.85. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

AbbVie 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.